Australia’s economy is still growing, though momentum has slowed in recent months. The Reserve Bank of Australia (RBA) is taking a measured approach to any changes in interest rates, holding off on adjustments as it closely monitors inflation trends. With inflation yet to stabilise, the RBA remains cautious, aiming to strike the right balance between supporting growth and controlling inflation.
To provide more insight into the current state of the economy, here’s a closer look at what’s been happening from July to September.
What It All Means for You
For everyday Australians, the combination of high interest rates, sticky inflation, and rising living costs means managing your finances carefully is more important than ever. Mortgage holders won’t see relief from rate cuts soon, and households should continue to be mindful of their budgets, especially with the cost of essentials like groceries and petrol still fluctuating.
If you’re feeling the pinch, now is a good time to seek professional advice and ensure you have a financial plan in place that helps you navigate these uncertain times.
