Australia’s recent economic growth has surprised analysts, potentially limiting further interest rate cuts for homeowners hoping for mortgage relief. The Reserve Bank of Australia (RBA) has signaled that stronger-than-expected consumer spending could halt its rate-cutting cycle sooner than anticipated. Australia’s economy grew by 0.6% in the June quarter and 1.8% over the year, slightly beating forecasts. This growth was largely driven by a significant jump in household spending, which increased by 0.9% for the quarter – more than double the 0.4% rise seen in the previous three months. RBA Governor Michele Bullock acknowledged this economic strength during a speech in … Continue reading Australia’s 1.8% Economic Growth Could Halt Future Rate Cuts, RBA Governor Warns