RESERVE BANK HOLDS OFF RATE INCREASE FOR DECEMBER 2023

The Reserve Bank of Australia has put a hold on interest rates for December 2023.

This was welcome news for home owners with a mortgage and first home buyers looking to purchase their first home. The cash rate target is unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.

The RBA will meet again in February 2024 to review interest rates.

You can read the RBA full report here… https://www.rba.gov.au/media-releases/2023/mr-23-35.html