RBA Holds Cash Rate In April
The central bank keeps rates on hold as rising inflation continues.
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The Reserve Bank of Australia has decided to hold the cash rate at its current low of 0.1 per cent, in line with market expectations.
The last time the rate moved was in November of 2020 when the RBA cut rates from 0.25% and began broad quantitative easing. The RBA hasn’t raised rates since November 2010.
Dr Philip Lowe, Governor of Monetary Policy outed difficulties concerning inflation caused by the war in Ukraine which has seen ongoing supply-side problems leading to inflation rising sharply in many parts of the world.
Despite this, the Australian economy remains resilient and spending is picking up from the Omicron setback while the labour market is in good health.
“The strength of the Australian economy is evident in the labour market, with the unemployment rate falling further to 4 per cent in February. Underemployment is also at its lowest level in many years,” said Dr Lowe in his monthly address.
Housing prices have eased recently with Dr Lowe continuing to urge lenders to maintain lending standards.
“With interest rates at historically low levels, it is important that lending standards are maintained and that borrowers have adequate buffers.”
On the future of the cash rate, Dr Lowe maintained that consistency will be the primary driver of raising rates.
“The Board has wanted to see actual evidence that inflation is sustainably within the 2 to 3 per cent target range before it increases interest rates.”
“Over coming months, important additional evidence will be available to the Board on both inflation and the evolution of labour costs. The Board will assess this and other incoming information as its sets policy to support full employment in Australia and inflation outcomes consistent with the target.
As tariffs bite, Sydney’s MAISON de SABRÉ is pushing deeper into the US, holding firm on pricing and proving that resilience in luxury means more than survival.
Early indications from several big regional real-estate boards suggest March was overall another down month.
The nearly 10,000-square-foot home stands right at the entrance to the Amazon billionaire’s grand, $165 million estate.
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A home that’s right at the entrance to Jeff Bezos’s Beverly HIlls estate, which the billionaire purchased for $165 million in 2020, is now on the market asking $19.8 million.
Shaded by mature olive trees, the three-story modern mansion on Angelo Drive spans nearly 10,000 square feet, and includes five bedrooms, a bar and lounge, a home cinema, a pool with floating benches, and a 15-car garage.
The modern home centers around a striking wood staircase that extends through all three floors, creating an eye-shaped spiral.
Other design choices include a full-height black marble fireplace, herringbone wood flooring, grayscale marble backsplashes in the kitchen and bathroom, banks of floor-to-ceiling windows and a seating area in the middle of the pool.
There is also an outdoor kitchen and eating area poolside, and a living space with sliding doors that open directly onto the pool deck, for indoor/outdoor living.
The home was built in 2021 and designed by Gabbay Architects for the owner, who purchased the underlying property for $4.1 million in 2015, according to property records accessed through PropertyShark.
The seller, who runs a Beverly Hills-based plastic surgery practice, could not immediately be reached for comment.
The Benedict Canyon house came to market Friday with Tomer Fridman of Christie’s International Real Estate. He could not immediately be reached for comment.
The Bezos estate is also known as the Warner Estate, named after its first owner, Hollywood mogul Jack Warner of the Warner Bros.
After Warner, the 9-acre estate was owned by music executive and film producer David Geffen, followed by Bezos. The property includes a palatial Gregorian Revival mansion built in 1939 and designed by architect Florence Yoch to befit the status of one of the most powerful men in Hollywood.
At $19.8 million, the new listing offers quite a deal compared to other properties neighbouring Bezos. In Florida, the owner of a vacant lot next door to the Amazon founder’s estate on Indian Creek Island is asking $150 million for it.
The late rock star and his wife, model Iman, visited the house after seeing a news story about its unusual design by local architects Shim-Sutcliffe.
She built a cult global swimwear label worn by Kim Kardashian and Hailey Bieber. Now, Rebecca Klodinsky opens up about the emotional decision to shut it down — and how starting over led to her next big success in ethical luxury.
