FINSOC Weekly Wraps Vol. 31

Apr 10, 2023 Weekly Wraps

RBA puts a paise on rate rises – what can we expect next
After 10 consecutive rate rises cumulatively amounting to a 350 basis point increase, the RBA left the target cash rate unchanged at 3.60%.
The pause on rate hikes comes down to the RBA needing “more time to assess the state of the economy” – Governor Philip Lowe.
800,000 Australians who took out cheap fixed-rate loans during the pandemic will transition to variable rates at the end of the year.