18/02/2025
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Relief for Mortgage Holders as RBA Cuts Interest Rates
After more than a year of waiting, Australian homeowners struggling with high mortgage repayments have finally received some good news.
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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The Reserve Bank of Australia (RBA) has announced that inflation has eased enough for the country to begin its long-anticipated rate-cutting cycle.
Following its meeting on Tuesday, the RBA lowered the official cash rate from 4.35% to 4.10%, a move widely expected by financial markets, which had priced in an 85% chance of a cut leading up to the announcement.
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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For households with a $500,000 mortgage, this decision translates to a saving of $80 per month or $960 per year. However, those hoping for further relief will need to wait at least six weeks, as the central bank’s next meeting is scheduled for March 31–April 1.
Inflation Declining, But RBA Remains Cautious
Explaining its decision, the RBA stated that inflation had fallen “substantially” from its 2022 peak, giving the Board confidence that price pressures are moving closer to the target range of 2–3%.
“Inflation has fallen substantially since the peak in 2022, as higher interest rates have helped bring demand and supply into better balance,” the Board said in its statement.
“In the December quarter, underlying inflation was 3.2%, suggesting price pressures are easing more quickly than expected. Private demand growth has remained subdued, and wage pressures have also eased. These factors give the Board more confidence that inflation is moving sustainably towards the midpoint of the target range.”
However, the RBA also noted lingering risks.
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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“Recent labour market data has been unexpectedly strong, suggesting the job market may be tighter than previously thought,” the statement said.
Additionally, the Board slightly revised its underlying inflation forecast for 2026 upward, reinforcing a cautious stance on further rate cuts.
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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Economic Uncertainty Persists
Despite the positive signs, the RBA acknowledged that Australia’s economic outlook remains uncertain.
“There are notable uncertainties about domestic economic activity and inflation,” the statement read.
“The central projection is for household consumption to grow as incomes rise, but there is a risk that spending remains weaker than expected, leading to subdued economic growth and a sharper decline in the labour market.”
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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The RBA also flagged global economic risks, particularly geopolitical and policy uncertainties that could impact economic activity worldwide.
“Most central banks have begun easing monetary policy as inflation moves back towards their targets, but expectations for further rate cuts have moderated—particularly in the United States,” the statement noted.
The Path Ahead: Caution Over Further Cuts
While Tuesday’s rate cut marks progress, the RBA reaffirmed that its top priority remains returning inflation to target within a reasonable timeframe.
“Monetary policy has been restrictive and will remain so after this reduction,” the Board said.
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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“Some upside risks to inflation appear to have eased, and signs suggest disinflation is occurring faster than expected. However, there are still risks on both sides.”
The Board also emphasized that cutting rates too aggressively could stall disinflation, leading inflation to settle above the desired range.
“The Board will continue monitoring economic data and risks carefully,” it stated.
🏡𝐕𝐢𝐬𝐢𝐭 𝐑𝐃𝐋 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐟𝐨𝐫 𝐚 𝐅𝐑𝐄𝐄 𝐑𝐀𝐓𝐄 𝐂𝐇𝐄𝐂𝐊 𝐨𝐧 𝐲𝐨𝐮𝐫 𝐦𝐨𝐫𝐭𝐠𝐚𝐠𝐞!
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“We remain resolute in our determination to return inflation to target and will do what is necessary to achieve that goal.”
