Economic slump fears gave Reserve Bank reason for pause
The Reserve Bank board had another tough choice between hitting pause on interest rates or delivering another hike at its last meeting.
The Reserve Bank board had another tough choice between hitting pause on interest rates or delivering another hike at its last meeting.
Borrowers will welcome a break from interest rate hikes as Australia's central bank opts to keep the official cash rate steady at 4.1 per cent.
A recession is still unlikely, the treasurer asserts despite fears the Reserve Bank's aggressive interest rate hikes could tip the economy over the edge.
The Reserve Bank is expected to raise interest rates again, turning up the heat on already stretched household finances.
Most households except recent first-home buyers have enough savings to cope with rising interest rates, which the ANZ tips to reach three per cent this year.