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Rates Hold as Economy Slows
Description
The Reserve Bank held interest rates steady at 4.35% amid slowing economic activity and a four-year high in unemployment, sparing mortgage holders from even higher payments—but at a cost: households are cutting back, dipping into savings, and struggling with essentials like fuel. With inflation potentially peaking higher and global fuel prices on the rise, markets are betting on another hike soon, while some economists hope for cuts by mid-2027.
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