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- The Reserve Bank has chosen to keep the cash rate target at 4.1 per cent.
- The RBA made 12 rate hikes across 13 monthly meetings between May 2022 and June 2023 to try to tackle inflation.
- It’s the fourth consecutive month that the central bank has kept the rate unchanged.
Bullock took over from previous governor Philip Lowe in September, after he announced in July that he was stepping down from the role.
The RBA board has opted to keep monitoring the situation and wait patiently for the full set of quarterly inflation numbers due later in the month.
The increases were made in an effort to curb rising inflation.
Source: SBS News
Record numbers of mortgage holders have been deemed at risk of mortgage stress based on a Roy Morgan survey – a categorisation that takes into account monthly repayments as a percentage of income and spending.
More than 30 per cent of mortgage holders, or 1.57 million, fell into this at-risk category over the three months to August.