The Reserve Bank opted to keep interest rates at 4.1% on the back of better inflation figures. The pause also will allow them to better assess how the interest rate strategy is working according to Governor Philip Lowe.
Many economists are also warning that we could tip into recession if accumulated rate hikes push too many people over the edge.
Australia is doing better than many other OECD nations however – the US and New Zealand are both higher.
Image: Image: Courtesy R Chambers
Produced By: Roderick Chambers
Featured In Story: Warren Hogan Chief Economist Judo Bank
First aired on The Wire, Tuesday 4 July 2023