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RBA holds cash rate steady at 4.35 per cent
The Reserve Bank of Australia (RBA) has handed down its interest rate decision.
The board left the cash rate on hold at 4.35 per cent, as was widely forecast by economists.
RBA 'shadow board' recommends cash rate hold
The RBA 'shadow board' — an independent group of Australian economists — has recommended the cash rate target remain at 4.35 per cent, acknowledging a "difficult economic backdrop".
The body, hosted by the Australian National University, is not affiliated with the RBA and offers its own policy recommendations a day before the official RBA decision.
What's considered a good interest rate right now?
According to Canstar analysis, the estimated average variable rate for an owner-occupier loan is currently 6.26 per cent, while the lowest variable rate out there is 5.69 per cent.
There are 49 lenders with at least one variable rate under 6 per cent, according to the consumer comparison platform. That's up from 38 lenders at the start of June.
Australia has a rule of thumb for mortgage stress. Here's where it falls short
The 30:40 mortgage indicator is often used to define mortgage stress in Australia. Experts say the rule isn't rigid.
The China factor in the United States' $500 million move in a tiny Australian town
Why is the Pentagon suddenly interested in a central NSW town with a population of just 130 people?
Albanese's office rejects claim he mimicked Japanese PM's breasts during podcast
An expert told SBS News the prime minister "will think twice about trying to be funny on tawdry radio programs".
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