For a Quote call 1300 793 143
8am-8pm Weekdays, 9am-5pm Weekends
No interest rate cuts this year?
Australian Bureau of Statistics reported yesterday that Consumer Price Index (CPI) climbed 4.5% in the year to June. It's the worst inflation numbers since the introduction of the GST. In the three months to June, inflation rose 1.5 % - the highest quarterly rise in 17 years.
The bigger than expected inflation figures indicate that the Reserve Bank of Australia is likely to take its time before giving us any rate cuts. But it is considered there's almost "no chance" of interest rates rising again this year as RBA faces the challenge of managing a steeper economic slowdown than anticipated.
Related Topics:
© Rate Detective - All Rights Reserved
ABN 47 127 196 712 - ACN 127 196 712
Reproduction in part or whole without written
permission is prohibited.
RateDetective operates under the House Home Loans credit license. License number 364974.
Rate Detective and its advisers operate as authorised representatives of Risk Advice Specialists Pty Ltd ABN 27 153 718 079 Australian Financial Service Licence No. 412709. Rate Detective and its advisers are authorised to advise and deal in Life Insurance, Income Protection, Total and Permanent Disability and Trauma Insurance.