---
title: "September 2024: RBA Cash Rate On Hold"
description: RBA keeps cash rate at 4.35% in September 2024. Experts predict rising personal debt and a potential rate cut by year's end.
---

<https://www.inceptioninsider.com.au>

# [September 2024: RBA Cash Rate On Hold](https://www.inceptioninsider.com.au/september-2024-rba-cash-rate-on-hold)

 Written by [Taylor Blackburn](https://www.inceptioninsider.com.au/author/taylor-blackburn) | Sep 30, 2024 12:29:52 AM

"The US Federal Reserve of reducing rates by 50 basis points—is a positive signal for those seeking a drop in interest rates." - Alex Kenward, Finance Manager

Low household savings will lead to a jump in personal debt over the next 12 months, according to the majority of panellists in Finder's latest poll.

In this month's [Finder RBA Cash Rate Survey™](https://www.finder.com.au/rba-cash-rate), 42 experts and economists weighed in on future cash rate moves and other issues relating to the state of the economy.

All experts (100%, 42/42) correctly predicted a cash rate hold – keeping it at 4.35% in September.

Graham Cooke, head of consumer research at Finder, said many homeowners are holding out for a cash rate cut.

"Due to the sharp and rapid rise in mortgage repayments, millions of Aussies are under significant financial stress.

"A whopping 40% of homeowners say they are struggling to pay their home loan in September, according to Finder's Consumer Sentiment Tracker.

"The good news is that a rate cut is looking much more likely this side of Christmas, following the US Federal Reserve slashing American interest rates by 50 basis points."

**Household personal debt is likely to rise**

Households saved just 0.9% of their income over the past year, according to data from The Australian Bureau of Statistics (ABS). This was the lowest rate of annual saving since 2006-07.

The average Australian has $39,407 in cash savings in September, according to Finder's Consumer Sentiment Tracker.

Source: [WLTH](https://wlth.com/press/finder-rba-survey-september-2024/)

Blackburn, T. (2024, September 24). *Finder RBA survey: September 2024*. The natural evolution of money | WLTH. https://wlth.com/press/finder-rba-survey-september-2024/ 

[View full post](https://www.inceptioninsider.com.au/september-2024-rba-cash-rate-on-hold)

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