Mortgage holders in Australia will be crossing their fingers this week for another month of interest rate relief.
The board of the Reserve Bank of Australia (RBA) is due to meet on Tuesday for what’s shaping up to be another close call between another 25 basis point hike or a second month of staying on the sidelines.
In April, the RBA kept the cash rate on hold after hiking 10 times in a row in its bid to chase down high inflation.
The central bank decided to pause to allow its increases to ripple through the economy, recognising that interest rate movements don’t take effect immediately, but said it was prepared to tighten further if incoming data called for it….