Hoping for a rate cut this year? There’s plenty of chatter, but remember, it’s not a sure bet. The RBA’s first 2024 meeting left cash rates at 4.35%, with a cautious note: they could move up or down.

Not even central bankers themselves can promise which direction rates will head because they depend on economic indicators like inflation, employment, and demand.

As information changes, so does the interest rates decision.

So, what should you do? Don’t base your long-term financial strategy on these short-term interest rates decisions.

If you have a mortgage or are looking to take on new or more debt, be vigilant and make sure you can service the loan if the rates move higher.