When will the RBA cut interest rates? | The Business | ABC News

The Reserve Bank has left interest rates on hold at 4.35 per cent, its highest level since 2011. However, it's leaving the door open to a rate cut possibly as soon as February. Mortgage stress is running high across Australia, particularly in suburbs like Marsden Park, 50km north-west of Sydney. More than six out of 10 borrowers are still paying off their home loans in this newly-built suburb, while struggling with the everyday cost of living. Against this backdrop, Australia's economy is growing at its weakest rate since the 1990s recession, outside of the pandemic, while inflation is at its lowest in more than three years. Economist say if it weren't for strong levels of migration and government spending, Australia would be in a technical recession.
#ABCBusiness
Subscribe: ab.co/1svxLVE
Read more here: www.abc.net.au...
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: ab.co/2lNeBn2
Like ABC News on Facebook: / abcnews.au
Follow ABC News on Instagram: / abcnews_au
Follow ABC News on X (Twitter): / abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia