Reserve Bank of Australia holds cash rate at 4.35% today
Business
The Reserve Bank of Australia (RBA) has left its cash rate unchanged at 4.35% today, after three hikes earlier this year.
With the economy losing steam and unemployment rising, the RBA is trying to strike a balance, supporting growth without making things tougher for people already dealing with higher costs.
Australia growth 0.3% and unemployment 4.5%
Growth has slowed (just 0.3% last quarter), and unemployment hit a four-year high at 4.5%.
For many, everyday life is getting pricier: average mortgage payments are up $353 this year, now sitting at $4,467 a month for a typical loan.
Inflation isn't helping either, with fuel prices pushing costs higher and another rate hike still on the table according to some market watchers.