The RBA has lifted the cash rate to 4.35% — and this time, the vote wasn’t even close.
Eight board members voted to hike. Only one pushed back. That’s a very different picture from March’s 5-4 split, and it tells you something important: the Board has conviction right now.
The updated forecasts say it all. GDP growth is down to 1.3%, inflation is expected to peak at 4.8% in June, and the RBA has given itself plenty of room to move again.
Ben’s take from today’s live session? July is likely a pause — but August is live. The peak cash rate could land anywhere between 4.60% and 4.85%.
Add in next week’s Federal Budget — with negative gearing and CGT changes potentially on the way — and there’s a lot moving at once for property investors.
The bottom line:
The path back to the 2–3% inflation target is looking a little less smooth than expected. That doesn’t mean panic — but it does mean staying on top of your numbers is more important than ever.
Now’s a great time to check your loan isn’t sitting on a rate that’s no longer competitive. A quick review could make a meaningful difference to your cash flow.
You can book a free loan review with the Empower Wealth team or connect with a broker directly via the “Professional Services” tab in the Moorr app.
