Relief for mortgage holders as Reserve Bank pauses interest rates - for now

Mortgage holders will be feeling some relief after the Reserve Bank Board paused consecutive hikes to the interest rate for the first time in 10 months.

R-B-A Governor Phillip Lowe has released a statement, saying the pause will provide additional time to assess the impact of the Board's previous interest rates increases. He says monetary policy operates "with a lag" and that they believe the full effect of the previous substantial increases is yet to be felt. Source: AAP / BIANCA DE MARCHI/AAPIMAGE

Key Points

• The Reserve Bank of Australia has left the cash rate unchanged for the first time since May last year, at 3.60 percent.
• The R-B-A Board's decision will have mixed impacts on mortgage holders and businesses.
• R-B-A Governor Philip Lowe is also set to soon learn his fate with his term coming to an end in September.

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RBA announces tenth consecutive interest rate rise

SBS Filipino

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