Another month of relief, with the Reserve Bank deciding to leave rates on hold.

While there has still been some pressure on rates as inflation has continued to grow at higher than expected rates, the reserve believes the past rate increases are starting to have the desired effect and slow consumer spending, so they are taking a view of ‘Wait and See’. Hopefully we have seen the last of rises for some time but as always there are no guarantees and it is still possible we will see another rise yet.

It will be some time however, before rates start to drop and the general consensus is that it will be 12 to 18 months before this could possibly happen.