What’s Happening With Interest Rates? – March Rate Report

By Ellen Mathews
In Home Loans

March 2024 is upon us, and the Reserve Bank of Australia (RBA) Board has made yet another cash rate decision. In line with the RBA’s revised approach to monetary policy decisions (longer meetings that are fewer in number), the March meeting began on Monday afternoon, March 18, and continued the morning of March 19.

So, if you were wondering why you didn’t receive any cash rate news on the first Tuesday of this month as per tradition, now you know! New year, new cash rate meeting schedule.

What’s the verdict?

The RBA Board decided to keep the cash rate on hold at 4.35%, however there is growing speculation that the cash rate’s next movement will be downwards, with many experts predicting that this may even occur within the next six months.

What should I be doing now, before interest rates are cut?

If you’re thinking about buying a home, we suggest speaking to our team about your loan options now, before rates are reduced.

Once rates are cut, it’s likely that more people will be keen to buy, heating up the competition.

So don’t wait for the RBA to swing the axe. Reach out to our team today for an obligation-free chat!

If you’re new here and not sure how to get in touch, simply call 1300 886 100, or visit moneyquest.com.au and fill out the enquiry form.

Disclaimer:

This article is written to provide a summary and general overview of the subject matter covered for your information only. Every effort has been made to ensure the information in the article is current, accurate and reliable. This article has been prepared without taking into account your objectives, personal circumstances, financial situation or needs. You should consider whether it is appropriate for your circumstances. You should seek your own independent legal, financial and taxation advice before acting or relying on any of the content contained in the articles and review any relevant Product Disclosure Statement (PDS), Terms and Conditions (T&C) or Financial Services Guide (FSG).

Please consult your financial advisor, solicitor or accountant before acting on information contained in this publication.

Leave a Comment