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The Reserve Bank of Australia has chosen to hold the interest rate, in its second decision of 2024. The RBA board met on Tuesday, announcing the cash rate will remain at 4.35 per cent. It is the third meeting in a row at which the board has decided to hold the rate. Economists broadly predict the next move will be down, although they do not predict exactly when this will occur.
Relief likely far off Interest rate relief is unlikely to happen until at least the third quarter of this year, CreditorWatch’s chief economist Anneke Thompson said. “It is unlikely that these businesses will get any interest rate relief until the third quarter of 2024, given services inflation remains elevated and is only coming down at a slow pace,” Thompson said. “While interest rates remain at 4.
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