The Assistant Governor said all Australians will benefit from the Reserve Bank’s commitment to bringing down inflation, as households continue to endure a cost of living crisis.
Following the latest hike on March 7, Governor Philip Lowe indicated that as the previous rate rises start to impact the economy the RBA is getting closer to pausing further rate hikes.
“We've done a lot in a short period and at some point it will be appropriate to sit still and assess it.” Overnight Swiss bank UBS completed a takeover of its embattled rival Credit Suisse valued at approximately $AUD4.5 billion after it suffered liquidity issues. The significant merger also comes after the collapse of Silicon Valley Bank and Signature Bank in the United States, which has prompted concerns about the stability of the global economy.
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