{"id":97,"date":"2023-08-01T17:55:00","date_gmt":"2023-08-01T17:55:00","guid":{"rendered":"https:\/\/investinperth.net.au\/old\/2023\/07\/18\/we-carefully-craft-these-beauties\/"},"modified":"2023-08-25T04:47:17","modified_gmt":"2023-08-25T04:47:17","slug":"we-carefully-craft-these-beauties","status":"publish","type":"post","link":"https:\/\/investinperth.net.au\/old\/2023\/08\/01\/we-carefully-craft-these-beauties\/","title":{"rendered":"RBA Interest Rate Update (01\/08\/2023)"},"content":{"rendered":"\n<p class=\"has-text-align-left has-background-color has-secondary-background-color has-text-color has-background has-large-font-size gutenify-section-19660550-4028-11ee-8e4b-6765964ea2dd\"><strong>The Board decided to leave the cash rate target unchanged at 4.10\u00a0per\u00a0cent .<\/strong><\/p>\n\n\n\n<p class=\"gutenify-section-3b88f110-4302-11ee-993b-ffa4abe86460\"><\/p>\n\n\n\n<p class=\"has-text-align-left has-background-color has-cyan-bluish-gray-background-color has-text-color has-background gutenify-section-19665370-4028-11ee-8e4b-6765964ea2dd\">Interest rates have been increased by 4&nbsp;percentage points since May last year. The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so. In light of this and the uncertainty surrounding the economic outlook, the Board again decided to hold interest rates steady this month. This will provide further time to assess the impact of the increase in interest rates to date and the economic outlook.<\/p>\n\n\n\n<p class=\"has-text-align-left has-background-color has-cyan-bluish-gray-background-color has-text-color has-background gutenify-section-19667a80-4028-11ee-8e4b-6765964ea2dd\">Inflation in Australia is declining but is still too high at 6&nbsp;per&nbsp;cent. Goods price inflation has eased, but the prices of many services are rising briskly. Rent inflation is also elevated. The central forecast is for CPI inflation to continue to decline, to be around 3\u00bc&nbsp;per&nbsp;cent by the end of 2024 and to be back within the&nbsp;2\u20133&nbsp;per&nbsp;cent target range in late 2025.<\/p>\n\n\n\n<p class=\"has-text-align-left has-background-color has-cyan-bluish-gray-background-color has-text-color has-background gutenify-section-1967da10-4028-11ee-8e4b-6765964ea2dd\">The Australian economy is experiencing a period of below-trend growth and this is expected to continue for a while. Household consumption growth is weak, as is dwelling investment. The central forecast is for GDP growth of around 1\u00be&nbsp;per&nbsp;cent over 2024 and a little above 2&nbsp;per&nbsp;cent over the following year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Board decided to leave the cash rate target unchanged at 4.10\u00a0per\u00a0cent . Interest rates [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","om_disable_all_campaigns":false,"_uag_custom_page_level_css":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","gutenify_custom_css":"","gutenify_custom_css_data":""},"categories":[36],"tags":[],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false,"awb_sm":false,"awb_md":false,"awb_lg":false,"awb_xl":false},"uagb_author_info":{"display_name":"Suresh Sama","author_link":"https:\/\/investinperth.net.au\/old\/author\/sama-suresh\/"},"uagb_comment_info":0,"uagb_excerpt":"The Board decided to leave the cash rate target unchanged at 4.10\u00a0per\u00a0cent . Interest rates [&hellip;]","_links":{"self":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts\/97"}],"collection":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/comments?post=97"}],"version-history":[{"count":3,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts\/97\/revisions"}],"predecessor-version":[{"id":438,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/posts\/97\/revisions\/438"}],"wp:attachment":[{"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/media?parent=97"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/categories?post=97"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investinperth.net.au\/old\/wp-json\/wp\/v2\/tags?post=97"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}