How would a 1.5% increase in interest rate affect you?

As you likely already know, the Reserve Bank of Australia decided to hold the official cash rate at a record low 0.1 per cent – a rate that has remained unchanged since November 2020.

We believe the reason to retain interest rates at the current level comes as the situation between Russia and the Ukraine develops.  Not to mention, the federal election, now almost certain to be held in May, is also expected to weigh on these decisions.

It is a view held by many that we should expect a series of cash rate hikes by mid-2023 as business and household sectors bounce back now that COVID restrictions have largely been removed.

Now is the time to understand how you will manage with both increasing fuel prices and increasing interest rates – ensure you are prepared for what lays ahead.  If you would like professional guidance on the impact to you, book your free consultation now:

For existing clients: https://positivedynamics.com.au/client-review/

For new clients: https://positivedynamics.com.au/financial-advice/