Renters Unlikely to Benefit from Interest Rate Cuts: RBA

RBA Governor Michele Bullock said a low inflation rate would be more beneficial to renters.

A 'For Lease ' sign is seen at the front of a new house in Sydney, Australia, on Jan. 11, 2024. Jenny Evans/Getty Images

Interest rate cuts may not necessarily offer immediate relief for low-income renters, a parliamentary committee has been told.

Reserve Bank of Australia (RBA) Governor Michele Bullock said the worst affected group during the interest rate hike in the past few years were lower-income people who were renting.