Good news for Australians: RBA Pauses Rates For Second Straight Month
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Posted 02/08/2023
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The Reserve Bank of Australia (RBA) announced on Tuesday that it has chosen to maintain its cash rate at 4.1 per cent for the second consecutive month, providing some much financial needed breathing room for Australian households.
The main reasoning behind this decision by Dr Philip Lowe was that, as he stated, the central bank needed more time to assess the impact of the 400 basis points of interest rate increases implemented since May 2022.
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)
Changes in the cash rate typically take 12 to 18 months to transmit to households and businesses, and the surge in fixed-rate lending during the pandemic may result in a slower transmission in this cycle.
The RBA's decision to hold rates also aligns with many of its international peers, including America and the EU, who are also likely approaching the end of their tightening cycles. approaching the end of their respective tightening cycles.
This decision has led to varied opinions among economists. While many argue that low unemployment and persistent high inflation might compel the incoming governor, Michele Bullock, to raise rates again, others believe that the unprecedentedly aggressive interest rate rises of old are soon to be over.
Namely UBS chief economist George Tharenou, who originally expected the RBA to increase the cash rate to 4.35 per cent, said he now thought the central bank was done.
“We think risks are still tilted towards more tightening, given unemployment is close to a historic low, and upside [risk] to house prices from an extended hold, which could support spending,” Mr Tharenou said.
“But today’s decision makes us unconvinced the RBA will act on stronger data.”
Markets have adjusted their expectations for further rate rises, with just a 24 per cent chance of an increase at Dr. Lowe's final meeting in September and a 35 per cent chance at Ms. Bullock's first meeting in October.
Undoubtedly interest rate expectations were also improved by last week’s softer-than-expected inflation figures indicating a decline in annual inflation to 6 per cent in the June quarter from 7 per cent in the March quarter.
Yesterday, the ASX responded very positively climbing 0.5% to a near yearly high, rallying on the prospect that the rapid interest rate tightening cycle might well and truly be over.
Speaking in Parliament on Tuesday, Dr Chalmers said the decision to keep rates on hold was a “welcome reprieve” for borrowers.
“There will be a sigh of relief around Australia, but people are still under the pump,” Dr Chalmers said.
The Aussie dollar dropped on the news seeing gold in AUD firm nicely.