MoneyQuest’s April 2023 Cash Rate Update – RBA Board Finally Holds Fire
In today’s monetary policy decision, the Reserve Bank of Australia Board has finally decided to keep the cash rate on hold for the first time since April last year.
The cash rate is currently 3.60%.
There’s no denying that many borrowers are still feeling the pinch, but hopefully this hold decision is a sign of things to come. Whilst no one knows for sure, hopefully we have now arrived at the peak level of interest rates.
With that said, it’s important that homeowners don’t become complacent. It’s still a great time to touch base with your mortgage broker to discuss repricing, refinancing, or your options when it comes to financial hardship.
And finally, with less than 3 months to go until the end of the financial year, we recommend you start thinking about making an appointment with your accountant or financial adviser about tax planning, especially if you own an investment property. Your MoneyQuest mortgage broker can put you in touch with the right people if you’re not sure where to start.
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