Easiloans Interest Rate Update June 2024

Borrower Relief: RBA makes cash rate decision

Following the June monetary policy meeting, the Reserve Bank of Australia (RBA) has decided to hold the cash rate at 4.35 per cent for the 4th consecutive month.

In the Statement by the Reserve Bank Board following the decision, the RBA noted the economic outlook "remains uncertain and recent data have demonstrated that the process of returning inflation to target is unlikely to be smooth."

"Inflation is easing but has been doing so more slowly than previously expected and it remains high. The board expects that it will be some time yet before inflation is sustainably in the target range. While recent data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation.

The RBA has reiterated that it will continue to rely on emerging data and the evolving assessment of risks.

"In doing so, it will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market."

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