Today the RBA decided to keep interest rates steady for the month of April, bringing temporary relief to homeowners.
But don’t get too excited just yet as the RBA’s Governor, Philip Lowe has warned that interest rate pain may continue for households in the coming months.
This warning comes as businesses continue to put up prices and workers are demanding larger pay rises.
The RBA expects that further tightening of monetary policy may be needed to return inflation to target levels within a reasonable time frame.
The highest inflation rate in 30 years and the lowest unemployment rate in 50 years make it far more likely that we will see further rate rises in the short term.
Watch this space to see what they decide next month ?