The RBA hikes up the interest rate again to 4.25% – the highest cash rate since April 2012.

Despite having passed the peak of inflation, RBA Governor, Philip Lowe, states that at 7%, inflation is still too high.

Although The Board has said that Australian economic growth has slowed, labour market conditions have eased and wages growth has picked up, there is still the potential for further rate increases in the coming months.

With higher interest rates and cost of living pressures, household spending is slowing substantially, and house prices are on the rise again.

The Board continually reviews how the economy is evolving as it seeks to keep it on an even keel, as well as aiming to return inflation to the 2-3 % range. 

We, at Proxima Financial Planning, will keep you informed of any developments that may impact your investments. Please contact us if you have any further queries or concerns.

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