{"id":5382,"date":"2024-02-08T09:44:12","date_gmt":"2024-02-07T23:44:12","guid":{"rendered":"https:\/\/financialplus.com.au\/?p=5382"},"modified":"2024-02-08T09:44:12","modified_gmt":"2024-02-07T23:44:12","slug":"when-will-the-next-rba-cash-rate-call-be-made","status":"publish","type":"post","link":"https:\/\/financialplus.com.au\/when-will-the-next-rba-cash-rate-call-be-made\/","title":{"rendered":"When will the next RBA cash rate call be made?"},"content":{"rendered":"

\"\"Happy days! The Reserve Bank kept rates steady in February. But a shake-up in the number of times our central bank meets each year is raising questions about how long the rate pause will last. Here\u2019s what we could expect.<\/strong><\/p>\n

It seems fitting that in a month known for Valentine\u2019s Day, the Reserve Bank of Australia (RBA) has shown borrowers some love by keeping the cash rate steady at 4.35%.<\/p>\n

In reality though, the latest rate pause has nothing to do with romance or affection.<\/p>\n

It\u2019s more to do with keeping a lid on rising living costs.<\/p>\n

After months of steadily rising prices, inflation looks to be heading south \u2013\u00a0currently sitting at 4.1%<\/a>, down from 7.8% in December 2022.<\/p>\n

That\u2019s exactly what the RBA has been aiming for with their interest rate hikes.<\/p>\n

Long story short, home owners can breathe easy \u2013 for now at least.<\/p>\n

But when will the next cash rate decision be made?<\/h3>\n

RBA rate calls won\u2019t be as frequent in 2024<\/p>\n

Aussies are used to RBA rate decisions being made on a monthly basis, with a break for the holiday season each January.<\/p>\n

That\u2019s changing this year.<\/p>\n

Instead of 11 meetings, the RBA will meet just eight times to decide interest rate movements, handing down their decision on the second day of:<\/p>\n

\u2013 February 5-6
\n\u2013 March 18-19
\n\u2013 May 6-7
\n\u2013 June 17-18
\n\u2013 August 5-6
\n\u2013 September 23-24
\n\u2013 November 4-5
\n\u2013 December 9-10<\/p>\n

What do less frequent meetings mean for borrowers?<\/h3>\n

So, whatever rate decision is made in March, home owners need to live with it for almost two months until the RBA meets again in May.<\/p>\n

As such,\u00a0some pundits believe<\/a>\u00a0fewer meetings will naturally lead to fewer rate movements. Farewell to back-to-back rate hikes every month, for example.<\/p>\n

However, experts also warn it might lead to bigger increases or decreases as the RBA has fewer opportunities to move the needle.<\/p>\n

And that\u2019s not to say individual lenders can\u2019t, or won\u2019t, change their home loan rates whenever they like, regardless of RBA rate decisions.<\/p>\n

For example,\u00a0Mozo reports<\/a>\u00a0that a number of lenders lifted their variable rates in December 2023 despite the RBA keeping the cash rate steady.<\/p>\n

Buy now or wait for rates to fall?<\/h3>\n

While the February rate pause will be welcomed by borrowers, the\u00a0RBA has cautioned<\/a>\u00a0that further rate hikes \u201ccannot be ruled out\u201d, especially if inflation starts to climb again.<\/p>\n

Even so, plenty of lenders including\u00a0NAB<\/a>, the\u00a0Commonwealth Bank<\/a>\u00a0and\u00a0Westpac<\/a>, expect to see interest rates fall this year.<\/p>\n

There are no guarantees \u2013 a lot can happen over the next 12 months. But it does raise questions about whether now is a good time to buy a home, or if it makes sense to hold off until rates head lower.<\/p>\n

On one hand, a drop in interest rates could boost your borrowing power.<\/p>\n

The catch is that lower rates could stimulate home buying activity, potentially driving home prices higher.<\/p>\n

If this happens\u00a0CoreLogic warns<\/a>\u00a0we could see new measures introduced to contain housing credit risk such as changes to lenders\u2019 loan-to-value ratios.<\/p>\n

So when might be the right time to buy?<\/h3>\n

We believe the ideal time to buy a home is when you feel ready to do so.<\/p>\n

And a good way to find out if you\u2019re ready is to speak to us about your borrowing power.<\/p>\n

We can help you crunch the numbers to let you know how much you could borrow, which in turn helps you figure out what kind of property you could afford to buy.<\/p>\n

If that sounds like a good plan to you, give us a call today.<\/p>\n

Disclaimer:<\/strong>\u00a0The content of this article is general in nature and is presented for informative purposes. It is not intended to constitute tax or financial advice, whether general or personal nor is it intended to imply any recommendation or opinion about a financial product. It does not take into consideration your personal situation and may not be relevant to circumstances. Before taking any action, consider your own particular circumstances and seek professional advice. This content is protected by copyright laws and various other intellectual property laws. It is not to be modified, reproduced or republished without prior written consent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Happy days! The Reserve Bank kept rates steady in February. But a shake-up in the number of times our central bank meets each year is raising questions about how long the rate pause will last. Here\u2019s what we could expect. It seems fitting that in a month known for Valentine\u2019s Day, the Reserve Bank of […]<\/p>\n","protected":false},"author":23,"featured_media":5383,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[110],"tags":[],"class_list":{"0":"post-5382","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-home-loans","8":"entry"},"yoast_head":"\nWhen will the next RBA cash rate call be made? · FinancialPlus Mortgage Broker Gold Coast<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/financialplus.com.au\/when-will-the-next-rba-cash-rate-call-be-made\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"When will the next RBA cash rate call be made? · FinancialPlus Mortgage Broker Gold Coast\" \/>\n<meta property=\"og:description\" content=\"Happy days! The Reserve Bank kept rates steady in February. But a shake-up in the number of times our central bank meets each year is raising questions about how long the rate pause will last. Here\u2019s what we could expect. 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