Good afternoon.The Reserve Bank has held the official interest rate at 4.35% as the economy slows and unemployment rises. The widely expected decision will bring little relief to mortgage holders, already strained by the RBA’s three consecutive rate hikes this year.In a statement accompanying the decision, the Reserve Bank board said it was being proved right in its predictions and higher fuel prices have started pushing up the prices of some goods and services.The treasurer, Jim Chalmers, said the government welcomed the decision: “We’re pleased with developments in the Middle East but we’re realistic about how long it will take for the global economy to normalise and what that means for us.”Top news
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