The Reserve Bank has decided to leave interest rates on hold. The Official Cash Rate OCR will remain at 4.1%
This hold decision is welcome news after the Inflation data had fallen to 5.6% in May from the previous month reading of 6.8%
The downward trend has provided sufficient evidence the war on inflation is working. We are edging closer to the target range of 2% to 3% inflation.
An opportunity now exists for the dust to settle on interest rate changes by the banks, and comparing apples with apples is possible.
