A lot of people breathed a sigh of relief this week when the Reserve Bank of Australia elected to make no change to the official cash rate this month, leaving it at 3.6% for now.
Following much speculation, the Board decided to wait and see the impact of a 10-month run of rate rises, but is not exactly offering long-term comfort, with RBA governor Philip Lowe warning further rate rises ‘may well be needed’ to tame inflation.
