Welcome to our live updates on today’s interest rate decision. The Reserve Bank of Australia (RBA) is set to reveal its choice at 2.30 PM, with many analysts anticipating a reduction of 25 basis points, bringing the rate down from 4.35% to 4.1%. This potential adjustment would mark the first change to the official cash rate since November 2023 and the first decrease since November 2020.
However, a rate cut is not assured; the RBA board might prefer to wait for further reductions in inflation before making any adjustments, especially as they consider various factors, including the state of the job market.
The outcome of this decision is likely to have far-reaching effects—mortgage holders are eager for potential relief, and the federal government is poised to announce an election date in the wake of the decision.
Stay tuned for continuous updates leading up to and following the 2.30 PM announcement, including reactions from economists and politicians alike.