RBA interest rates: Reserve Bank holds cash rate at 4.35% as house prices continue to fall

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The Reserve Bank of Australia decided to keep the cash rate steady at 4.35% after three consecutive hikes, amidst ongoing concerns about high inflation. This decision coincides with continued declines in house prices in major cities like Sydney and Melbourne, influenced by prior rate increases and tax reforms affecting property investors.

In a widely expected decision, the Reserve Bank of Australia holds interest rate after three consecutive hikes Follow our Australia news live blog for latest updates Get our breaking news email, free app or daily news podcast The Reserve Bank has held the cash rate at 4.35% in a widely expected decision despite persistent worries about elevated inflation. The announcement comes amid a steep decline in property prices in Sydney and Melbourne after three rate hikes earlier this year and major reforms to investor taxes. Continue reading...