The Reserve Bank is poised to halt its record run of interest rate rises on Tuesday, providing home buyers some pre-Easter relief after lifting average mortgage repayments over the past year by more than $1200 a month.
Financial markets are expecting the bank to hold the cash rate at 3.6 per cent at its meeting and keep interest rates there for the rest of the year. The RBA has not previously moved interest rates, up or down, where markets have fully priced in no change.
Since the Reserve’s last meeting, inflation and retail trade figures have suggested previous rate rises are starting to slow the economy. “While we think that the RBA will keep the cash rate unchanged at its current level of 3.6 per cent from now until the end of the year, when we expect rate cuts to occur, the risk is of another hike in coming months given high inflation.”
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