Update on RBA rate movements

With the new year well under way, and another rate increase by the RBA, it's timely to review where we're at, and importantly what's ahead.

Historically the RBA Cash Rate is still low when compared to recent decades. While there's still expectation rates will increase again this year, there's a feeling the RBA will pause after the next increase to reflect on where the economy is placed.

Some Lenders still expect RBA to increase rates by another 0.50%. by the end of 2023.
On the positive side, there's evidence that inflation is starting to slow in Australia, with expectation that this will flat-line by end of the year. Certainly this is evident in some overseas economies.

This means we could finally see the end of rate increases by year's end, with possibility of rate reductions in 2024, depending on the impact of the current rate increases, softening inflation, and slowing house sales.
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So hang in there, we're nearly through this. Look after each other, and if you feel your current home lending is not the best it could be, feel free to reach out to me for a chat.