Interest rates have today been cut by the Reserve Bank of Australia (RBA) for the first time since November 2020.
The move, which many anticipated after 13 successive increases, sees interest rates drop .25 basis points to 4.10 per cent.
“Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance,” the RBA said.
“In the December quarter underlying inflation was 3.2 per cent, which suggests inflationary pressures are easing a little more quickly than expected.
“There has also been continued subdued growth in private demand and wage pressures have eased.
“These factors give the Board more confidence that inflation is moving sustainably towards the midpoint of the 2–3 per cent target range.”
The move was welcomed. Within minutes the Real Estate Institute of Queensland said it will improve “borrowing capacity and provide mortgage relief”.
For more information, click here.
Campaigning in the Moreton Bay City Council Division 11 postal vote by-election is gathering pace. Here are the key issues from all seven candidates. The election date is Saturday September 27. Completed ballot papers must be received by the Electoral Commission Queensland by 5pm on Tuesday October 7, 2025. “All people enrolled … Read more
A $428-million-dollar lifestyle resort is set to open at Elimbah next month, redefining luxury living for over-50s in the Moreton Bay region. GemLife Elimbah is the latest community from GemLife, one of Australia’s leading developers of resort-style living. At the heart of the 26ha development will be an impressive line-up of … Read more