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CoreLogic’s recent analysis sheds light on the anticipated ‘fixed-rate cliff’ scenario initially outlined in February 2023. This phenomenon refers to the impending shift of approximately 1.3 million home loans from low fixed rates to higher variable rates.
In the current dynamic environment, it’s not surprising to witness certain enterprises opting to halt their operations. Conversely, new businesses are emerging and achieving success. One significant factor contributing to prosperous business operations is the implementation of a robust business management strategy.
The RBA decided to maintain the cash rate at 4.10% and the interest rate paid on Exchange Settlement balances at 4.00%.
Over the past year, interest rates have increased by 4 percentage points to balance supply and demand in the economy.
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