Reserve Bank Holds Interest Rates Steady but Warns of Future Hikes

• The Reserve Bank of Australia decided to keep the official cash rate at 4.1% due to economic uncertainty and the impact of previous rate rises.
• The RBA has raised interest rates 12 times since May last year to curb high inflation, slowing consumer spending and weakening economic growth.
• The RBA will monitor economic data and inflation before determining if further rate increases are necessary to achieve its 2-3% inflation target.
• Mortgage holders get temporary relief, but fixed home loan rates will increase soon, and variable rates may rise again if inflation remains too high.
• The government and RBA aim to slow growth to a sustainable pace without causing a recession, but the outlook remains uncertain.

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