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RBA Governor dampens hopes of a pre-Christmas interest rate cut

Published 16 August 2024, 10:00 am
Reserve Bank Governor Michele Bullock has reiterated there will be no official interest rate cuts in the "near term". Fronting a Senate committee, Bullock conceded this wasn't what Australian households wanted to hear but it was the right call, considering, she said, the economic risks: China's slowdown, geopolitical tensions and, in Australia, still elevated inflation - particularly in services. So, with no rate relief in Australia anytime soon, what does it mean for the cost of living crisis?
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