Reserve Bank of Australia leaves interest rates on hold for April 2021, borrowers expect early rise
3 years, 8 months ago

Reserve Bank of Australia leaves interest rates on hold for April 2021, borrowers expect early rise

Daily Mail  

Record-low interest rates are a ticking time bomb for one million home borrowers amid fears mortgage costs will go up well before 2024. The Reserve Bank of Australia on Tuesday left the cash rate on hold at a record low of 0.1 per cent but governor Philip Lowe has acknowledged rapidly rising house prices were a concern. Pictured is a Sydney auction House prices rise everywhere Sydney: up 4.3 per cent to $1,112,671 Melbourne: up 2.6 per cent to $859,097 Brisbane: up 2.6 per cent to $607,969 Adelaide: up 1.6 per cent to $518,692 Perth: up 1.8 per cent to $527,833 Hobart: up 3 per cent to $584,974 Darwin: up 1.9 per cent to $519,575 Canberra: up 3.3 per cent to $819,707 Source: CoreLogic Home Value Index for March 2021 on median house prices The Reserve Bank hasn't increased interest rates since November 2010, more than a decade ago. Even if the Reserve Bank kept its promises to leave rates on hold for three years, 40 per cent of adults surveyed by financial comparison group Canstar expected lenders to increase their mortgage rates before 2024. The Reserve Bank of Australia on Tuesday left the cash rate on hold at a record low of 0.1 per cent but governor Philip Lowe has acknowledged rapidly rising house prices were a concern A third of respondents expected the Reserve Bank to increase rates before 2024 to slow down runaway property price growth, with CoreLogic data for March showing Australian home prices had surged at the fastest monthly pace since October 1988.

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History of this topic

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold
5 days, 19 hours ago

Bank of England warns of ‘heightened uncertainty’ as it keeps interest rates on hold

Associated Press  

LONDON — The U.K.’s central bank warned Thursday of “heightened uncertainty” as it kept interest rates on hold after inflation moved further above target, even at a time when the British economy is flatlining at best. The Bank of England’s nine-member Monetary Policy Committee kept its main interest rate unchanged at 4.75% with new data showing inflation rising to 2.6%, …

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation
Top News
5 days, 21 hours ago

Bank of England set to keep interest rates on hold TODAY despite UK economy stalling after Labour's Budget raid - with fears over resurgent inflation

Daily Mail  

The Bank of England is set to keep interest rates on hold today despite mounting alarm at the stalling economy. Interest rates, which influence how much banks charge for loans and mortgages, are used as a tool by the central bank to keep inflation at its 2 per cent target level. Rob Wood, chief UK economist for Pantheon Macroeconomics, said: …

Bank of England expected to hold interest rates after jump in inflation
1 week, 4 days ago

Bank of England expected to hold interest rates after jump in inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England is …

Reserve Bank keeps interest rates on hold in December but leaves door open to a February cut
2 weeks, 1 day ago

Reserve Bank keeps interest rates on hold in December but leaves door open to a February cut

ABC  

The Reserve Bank has left interest rates on hold in December for a ninth-straight meeting, but opened the door to a rate cut as soon as February. This is a change in language from the board's November statement, which said it needed to "remain vigilant to upside risks to inflation" and was "not ruling anything in or out". "While the …

Interest rates might fall in February … but don't bet the house on it
1 month, 2 weeks ago

Interest rates might fall in February … but don't bet the house on it

ABC  

It's the hope that kills you. Rate cuts may not come until autumn, if they come at all Now even a February rate cut is looking unlikely, according to the money markets, which are pricing just 20 per cent chance of a cut, despite all four big banks and many other local economists forecasting it. Markets are pricing in a …

Review finds 'no evidence' gunshots were deliberately edited into commando footage — as it happened
Trending News
1 month, 2 weeks ago

Review finds 'no evidence' gunshots were deliberately edited into commando footage — as it happened

ABC  

Treasurer Jim Chalmers answers a questions on the RBA interest rates. Member for Macquarie, Susan Templeman, asks: "What does the decision taken today by the Reserve Bank mean for Australians and what progress is being made in the fight against inflation and how does this compare to other approaches?" "Secondly, it reflects the progress that we are making together in …

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation
1 month, 2 weeks ago

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent for its eighth-straight meeting, despite inflation falling to its lowest level in almost four years. In a statement, the RBA said while inflation has "fallen substantially" since it peaked in 2022, underlying inflation remained too high at 3.5 per cent in the September quarter. The …

The cheapest home loan interest rate in Australia as banks slash rates
2 months, 3 weeks ago

The cheapest home loan interest rate in Australia as banks slash rates

Daily Mail  

Australian borrowers tempted by lower fixed rate mortgages should not jump in too soon, amid predictions of even better deals on offer in 2025. Macquarie Bank on Thursday slashed its two and three-year fixed rates by 20 basis points to 5.39 per cent - now Australia's lowest mortgage rate outside of a green loan. But their lowest fixed rates are …

Major bank makes big call on interest rates - here's when home borrowers can expect some relief
2 months, 3 weeks ago

Major bank makes big call on interest rates - here's when home borrowers can expect some relief

Daily Mail  

A major bank has now revised its interest rate forecasts to have the Reserve Bank providing relief in February. National Australia Bank also forecast rates being eased by 25 basis points during every quarter of 2025 until the cash rate fell to 3.1 per cent in early 2026 for the first time since February 2023. A major bank has now …

These numbers are the clues to the Reserve Bank's puzzle: when will interest rates go down?
3 months ago

These numbers are the clues to the Reserve Bank's puzzle: when will interest rates go down?

ABC  

Perhaps no question matters more to Australians worn down by three years of relentless cost pressures: when will the Reserve Bank cut interest rates? But not too much – which is why when inflation shoots high, the Reserve Bank raises interest rates to suppress demand by making it more expensive to borrow and spend. But the Reserve Bank prefers a …

Why is the US cutting interest rates? What does it mean for Australia?
3 months, 1 week ago

Why is the US cutting interest rates? What does it mean for Australia?

ABC  

The US Federal Reserve has cut interest rates overnight in an important move for the global economy. Economists predicted the Fed would want to start cutting rates before inflation hits 2 per cent because there's a long lag time between interest rate movements and their effect on the economy. It means the Reserve Bank's cash rate target, which sits at …

Will interest rate decline shake up California housing market?
3 months, 1 week ago

Will interest rate decline shake up California housing market?

LA Times  

The interest rate on a 30-year fixed mortgage has fallen from above 7% in May to the low 6% range as of last week. For many prospective homebuyers, the last two years have been brutal as high home prices and mortgage rates produced the most unaffordable housing market since the 2000s bubble. Experts attribute the recent decline in mortgage rates …

Why the Reserve Bank will be forced to cut rates before year's end
3 months, 2 weeks ago

Why the Reserve Bank will be forced to cut rates before year's end

ABC  

Until just a few weeks ago, it seemed as though the developed world had pulled off what once was thought to be the impossible. And yet, despite this mounting evidence of a critical economic slump, there remains a rump of high-profile economists openly criticising the Reserve Bank of Australia's reluctance to push interest rates above 5 per cent. Parliament House …

Why Reserve Bank of Australia boss Michele Bullock is refusing to consider cutting rates soon - even though mortgage holders in New Zealand, Canada, UK and EU have already had some relief
4 months, 1 week ago

Why Reserve Bank of Australia boss Michele Bullock is refusing to consider cutting rates soon - even though mortgage holders in New Zealand, Canada, UK and EU have already had some relief

Daily Mail  

The woman who decides the fate of millions of mortgage holders has declared a rate cut won't be happening anytime soon - despite what other countries have done this year. Reserve Bank Governor Michele Bullock told a parliamentary hearing on Friday that Australia would not be copying the approach of other central banks that have cut rates this year, with …

RBA Governor delivers another blow to Aussies with a mortgage - and why you shouldn't expect rate cuts anytime soon
4 months, 2 weeks ago

RBA Governor delivers another blow to Aussies with a mortgage - and why you shouldn't expect rate cuts anytime soon

Daily Mail  

Australia's most powerful banker has aggressively scotched expectations of rate cuts by Christmas - despite global concerns about an American recession and weak local economic activity. In the media conference afterwards, Governor Michele Bullock stressed a rate cut wasn't happening soon - despite the Reserve Bank statement emphasing the risk of an economic slowdown and weaker gross domestic product 'Given …

Finance guru Mark Bouris makes worrying admission about Australia
4 months, 2 weeks ago

Finance guru Mark Bouris makes worrying admission about Australia

Daily Mail  

Finance guru Mark Bouris has claimed that Australia has been in a recession for the past 18 months with the standard of living the worst its been in two years. Finance guru Mark Bouris has claimed that Australia has been in a recession for the past 18 months The cash rate is currently at a 12 year high of 4.35 …

RBA's Michelle Bullock says no cuts expected in next six months after leaving interest rates on hold
4 months, 2 weeks ago

RBA's Michelle Bullock says no cuts expected in next six months after leaving interest rates on hold

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent. "Financial markets have been volatile of late and the Australian dollar has depreciated," the RBA Board said in a statement. "In doing so, it will continue to pay close attention to developments in the global economy and financial markets, trends in domestic demand, and the …

With rates on hold again, the government and the public hold their breath. What comes next?
4 months, 2 weeks ago

With rates on hold again, the government and the public hold their breath. What comes next?

ABC  

The Reserve Bank's decision to leave interest rates unchanged is the latest in a series of fizzers. RBA governor Michele Bullock did take the unusual step of telling us we should not expect a rate cut in the next six months, taking us out to at least February next year. RBA Board keeps interest rates at 4.35 per cent Photo …

When will interest rates go down? Here's what you need to know ahead of the RBA meeting
4 months, 3 weeks ago

When will interest rates go down? Here's what you need to know ahead of the RBA meeting

ABC  

Anyone with a home loan right now is likely to be feeling the pressure from the rising cost of living and will be hoping their interest rates will go down. But when the RBA changes the cash rate target, interest rates for mortgages don't automatically change. If the RBA decides to change the cash rate, ABC News will publish a …

Why the Reserve Bank of Australia should hold off on interest rate hikes in August
4 months, 3 weeks ago

Why the Reserve Bank of Australia should hold off on interest rate hikes in August

ABC  

There's a curious thing about openness, communication and transparency. Because, despite recently showing a real reluctance to want to push interest rates even higher, she and her Reserve Bank of Australia colleagues have for the past two years made it abundantly clear that they were committed to hammering inflation into submission. Money markets right now have just a one-in-five chance …

Interest rates should stay on hold this summer, says Bank of England official
5 months, 2 weeks ago

Interest rates should stay on hold this summer, says Bank of England official

The Telegraph  

Some economists have been calling on the Bank to cut rates for months, although Bank forecasts suggest price rises are likely to pick up in the second half of this year. “I would rather hold rates until there is more certainty that underlying inflationary pressures have subsided sustainably.” He voted to leave interest rates on hold at the Bank of …

Reserve Bank of Australia Governor Michele Bullock reveals why business failures are at the highest level in a decade and Labor's new policy to address construction skills shortages
7 months, 2 weeks ago

Reserve Bank of Australia Governor Michele Bullock reveals why business failures are at the highest level in a decade and Labor's new policy to address construction skills shortages

Daily Mail  

Australia's most powerful central banker has suggested corporate insolvencies are at a decade-high during a building crisis because many companies couldn't cope with interest rates rising from record lows. Reserve Bank of Australia Governor Michele Bullock has weighed into this to imply many of these businesses couldn't cope with interest rates rising from a record-low of 0.1 per cent. Reserve …

'Too soon to declare victory' as RBA governor Bullock says she can't rule out another rate rise
7 months, 2 weeks ago

'Too soon to declare victory' as RBA governor Bullock says she can't rule out another rate rise

ABC  

In short : Interest rates have been kept steady, at 4.35 per cent. RBA does not want to tip economy into recession, Bullock says On Tuesday, Governor Bullock said when the RBA lifted rates in November, from 4.1 to 4.35 per cent, it was "taking out a little insurance." The RBA's preferred "core" measures of inflation, such as the trimmed …

Fed officials vote to hold interest rates steady at 23-year-high - here's what it means for YOUR wallet
7 months, 3 weeks ago

Fed officials vote to hold interest rates steady at 23-year-high - here's what it means for YOUR wallet

Daily Mail  

It is the sixth consecutive time the Fed has kept rates at the same level Rates are currently between 5.25 and 5.5 percent - their highest in 23 years Federal Reserve votes to hold interest rates steady at their current range The Federal Reserve has voted to hold interest rates steady at their current 23-year-high, officials announced today. The Federal …

Has the great Australian dream of affordable home ownership turned to a nightmare?
8 months, 2 weeks ago

Has the great Australian dream of affordable home ownership turned to a nightmare?

ABC  

Almost everyone recognises the problem. A recent study by the US Federal Reserve Bank of Dallas found that while higher rates since 2021 had made life tougher for home buyers, affordability would have been even worse if rates hadn't risen because housing prices would have risen more. Since the turn of the century, lower interest rates have allowed home buyers …

RBA Financial Stability Review says Australia's banks safe even as up to 85,000 borrowers risk running out of cash
9 months ago

RBA Financial Stability Review says Australia's banks safe even as up to 85,000 borrowers risk running out of cash

ABC  

In short: Around 5 per cent of mortgage borrowers currently spend more than they earn on essentials and their mortgage, and more than 2 per cent could run out of savings by the end of next year. Around 5 per cent of mortgage borrowers currently spend more than they earn on essentials and their mortgage, and more than 2 per …

Federal Reserve holds interest rates steady, projects three rate cuts later this year
9 months ago

Federal Reserve holds interest rates steady, projects three rate cuts later this year

NPR  

Federal Reserve holds interest rates steady, projects three rate cuts later this year Enlarge this image toggle caption Chip Somodevilla/Getty Images Chip Somodevilla/Getty Images The Federal Reserve held interest rates steady on Wednesday, but policymakers signaled they still expect to start cutting rates later this year. Updated forecasts from members of the Fed's rate-setting committee show an average of three …

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band
9 months ago

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band

ABC  

The Reserve Bank has left interest rates on hold amid signs that growth in the economy has dramatically slowed down following 13 interest rate rises since May 2022. The cash rate remains at 4.35 per cent, and while the central bank gave no clear indication of where it was headed next, saying it was "not ruling anything in or out", …

RBA governor Michele Bullock says she doesn't agree with IMF that Australia needs higher interest rates
10 months, 2 weeks ago

RBA governor Michele Bullock says she doesn't agree with IMF that Australia needs higher interest rates

ABC  

Reserve Bank governor Michele Bullock says she doesn't agree with the International Monetary Fund that Australia should be lifting interest rates even higher. Earlier this week, the RBA board decided to keep Australia's cash rate steady for another six weeks, at 4.35 per cent, saying there were "encouraging signs" that inflation was falling as required. RBA keeps interest rates steady …

When will the Reserve Bank start cutting interest rates?
10 months, 2 weeks ago

When will the Reserve Bank start cutting interest rates?

ABC  

In short: The Reserve Bank left interest rates on hold at 4.35 per cent but said it cannot rule out another rate rise, depending on economic data. The Reserve Bank left interest rates on hold at 4.35 per cent but said it cannot rule out another rate rise, depending on economic data. That implies that traders either expect inflation to …

Inflation fall 'should kill off' any lingering interest rate rise risks
10 months, 3 weeks ago

Inflation fall 'should kill off' any lingering interest rate rise risks

ABC  

In short: Consumer prices rose just 0.6 per cent over the December quarter, the slowest pace since March 2021, and 4.1 per cent over the past year. Consumer prices rose just 0.6 per cent over the December quarter, the slowest pace since March 2021, and 4.1 per cent over the past year. Moreover, the Reserve Bank's preferred "trimmed mean" measure …

Will 2024 finally be a happy new year for the Australian economy?
11 months, 2 weeks ago

Will 2024 finally be a happy new year for the Australian economy?

ABC  

When we said "happy new year" last week, for the first time in quite a while it may actually turn out to be true, at least in an economic sense. That kind of forecast has traders on the financial markets fully pricing in a Reserve Bank rate cut by September this year, on hopes that inflation will be close to …

Commonwealth Bank forecasts massive interest rate cuts for Australians: Here's when the country's biggest bank predicts they will begin
1 year ago

Commonwealth Bank forecasts massive interest rate cuts for Australians: Here's when the country's biggest bank predicts they will begin

Daily Mail  

The Commonwealth Bank is now forecasting six interest rate cuts in 2024 and 2025 - starting in September next year as Australian inflation moderates faster than predicted. Mr Halmarick is basing his prediction of 150 basis points of rate cuts, in 2024 and 2025, on inflation falling back to the top of the Reserve Bank's two to three per cent …

Australia's economic crisis will be front and centre as 2023 ends. But whether 2024 will be more prosperous remains to be seen
1 year ago

Australia's economic crisis will be front and centre as 2023 ends. But whether 2024 will be more prosperous remains to be seen

ABC  

It's been a year, hasn't it? That inflation struggle will be front and centre as this year ends and the new year begins, keeping the Reserve Bank back in the national economic driver's seat for another year. Unemployment rises despite another surprise job creation surge Photo shows A female bartender smiles at a colleague cutting lemons as she shakes up …

Kochie's top money tips for 2024 - as he reveals why he's sick of attacks on baby boomers
1 year ago

Kochie's top money tips for 2024 - as he reveals why he's sick of attacks on baby boomers

Daily Mail  

Finance expert David Koch is recommending Australians buy a property in a smaller capital city or invest in healthcare shares as rate rises stall the economy during a cost of living crisis. Finance expert David Koch is recommending Australians buy a property in a smaller capital city or invest in healthcare shares as rate rises stall the economy during a …

Reserve Bank leaves interest rates on hold in an early Christmas present for borrowers - but here's why Aussies with mortgages should be worried
1 year ago

Reserve Bank leaves interest rates on hold in an early Christmas present for borrowers - but here's why Aussies with mortgages should be worried

Daily Mail  

Australian borrowers have been warned to expect another rate hike even though the Reserve Bank has this month left interest rates on hold. The cash rate is already at a 12-year high of 4.35 per cent after the RBA last month raised rates for the 13th time in 18 months. KPMG chief economist Brendan Rynne said the Reserve Bank statement …

Reserve Bank warning MORE interest rate rises could be on their way
1 year, 1 month ago

Reserve Bank warning MORE interest rate rises could be on their way

Daily Mail  

Delaying the Melbourne Cup Day rate hike would have risked a more aggressive increase to interest rates in the months ahead, minutes released by the Reserve Bank have revealed - but there still may be more rises to come. The RBA, in its November 7 board minutes released on Tuesday, noted its updated economic forecasts, which show inflation returning to …

Reserve Bank raises interest rates, repayments now up more than 50pc since hikes began
1 year, 1 month ago

Reserve Bank raises interest rates, repayments now up more than 50pc since hikes began

ABC  

After keeping rates on hold for the past four meetings, the Reserve Bank has resumed hiking its cash rate target, with a quarter of a percentage point increase taking the benchmark interest rate to 4.35 per cent. Key points: At 4.35 per cent, the cash rate is at its highest level in 12 years The rate rise will add around …

Fed officials vote to hold interest rates steady at 22-year high thanks to 'strong' US economy - here's what it means for YOUR wallet
1 year, 1 month ago

Fed officials vote to hold interest rates steady at 22-year high thanks to 'strong' US economy - here's what it means for YOUR wallet

Daily Mail  

The Federal Reserve today announced interest rates will remain at their current level of between 5.25 and 5.5 percent. The Fed's relentless campaign to hike interest rates has taken borrowing costs from an all-time low of 0.5 percent in April 2020 to 5.5 percent today. The Federal Reserve today announced interest rates will remain at their current level of between …

High interest rates is hurting one more industry: Mortgage lenders
1 year, 1 month ago

High interest rates is hurting one more industry: Mortgage lenders

Al Jazeera  

Mortgage brokers, who rely on commissions, are struggling as their income has dipped as home buyers move to cash. That’s because potential homebuyers are waiting for interest rates to start coming down – meaning prospective clients for mortgage lenders like Clark are in holding patterns of sorts. That’s seven percent higher than this time last year “One way to avoid …

Reserve Bank unlikely to lift rates in October despite inflation uptick as more households brace for mortgage cliff
1 year, 2 months ago

Reserve Bank unlikely to lift rates in October despite inflation uptick as more households brace for mortgage cliff

ABC  

A "slight uptick" in inflation is unlikely to see the Reserve Bank lift rates at its October meeting, but more than half a million households facing the looming fixed-rate mortgage cliff are being warned to brace for higher repayments. Key points: An increase in August inflation data is unlikely to see the RBA lift rates next week but it could …

Reserve Bank leaves interest rates on hold in a major win for millions of homeowners in one of Philip Lowe's final acts as governor
1 year, 3 months ago

Reserve Bank leaves interest rates on hold in a major win for millions of homeowners in one of Philip Lowe's final acts as governor

Daily Mail  

The Reserve Bank has left interest rates on hold at an 11-year high of 4.1 per cent for the third straight month. Since peaking at 8.4 per cent late last year, the monthly measure of annual inflation has moderated, falling back to 4.9 per cent in July, the lowest level since February 2022, from 5.4 per cent in June. But …

Not yet time to ‘declare it’s all over’ on interest rates, warns bank governor
1 year, 4 months ago

Not yet time to ‘declare it’s all over’ on interest rates, warns bank governor

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Bank governor Andrew Bailey said it is not “time …

Bank of England hikes interest rates to 5%, stoking fears of a ‘mortgage bomb’
1 year, 6 months ago

Bank of England hikes interest rates to 5%, stoking fears of a ‘mortgage bomb’

CNN  

London CNN — The Bank of England raised interest rates by half a percentage point Thursday, after data this week revealed surprisingly stubborn inflation. “We are committed to returning inflation to the 2% target and will make the decisions necessary to achieve that.” Financial markets now expect the Bank of England’s benchmark interest rate to reach 6% around the turn …

RBA interest rate rise catches markets, banks and borrowers by surprise
1 year, 7 months ago

RBA interest rate rise catches markets, banks and borrowers by surprise

ABC  

The Reserve Bank of Australia has shocked borrowers and financial markets by resuming interest rate rises after a one-off pause last month. Key points: RBA lifts rates by 0.25 of a percentage point to 3.85 per cent The cash rate is now at its highest level since it was cut to 3.75 per cent in May 2012 Philip Lowe says …

Are Australians prepared for the possibility that the Reserve Bank won't hit its inflation target?
1 year, 7 months ago

Are Australians prepared for the possibility that the Reserve Bank won't hit its inflation target?

ABC  

One crucial aspect of a "target", as an idea, is that it's something you aim for. JP Morgan is openly stating that at this point, it's unclear if the Reserve Bank will hit its inflation target of between 2 and 3 per cent. Now it's entirely possible the Reserve Bank, whether or not it chooses to raise interest rates again, …

What does the Reserve Bank of Australia review mean, and how will it affect interest rates and mortgage payments?
1 year, 8 months ago

What does the Reserve Bank of Australia review mean, and how will it affect interest rates and mortgage payments?

ABC  

A scathing review of the Reserve Bank of Australia is set to deliver a shake-up of the central bank not seen in a generation. If you haven't read the 294-page report — or are confused about the economic jargon — here's what the review says, what it means for interest rates, your mortgage and for RBA governor Philip Lowe. Treasurer …

The RBA's interest rate pause was a close call that could change as early as next month
1 year, 8 months ago

The RBA's interest rate pause was a close call that could change as early as next month

ABC  

The Reserve Bank has revealed its decision to pause its aggressive interest-rate-hiking strategy was a close call, while warning that more hikes may be needed to tame inflation. Key points: The RBA kept interest rates on hold this month for the first time in a year Minutes from the meeting show board members want time to see the lagged impact …

Why New Zealand is beating Australia in the race that no-one wants to win — to a full-blown recession
1 year, 8 months ago

Why New Zealand is beating Australia in the race that no-one wants to win — to a full-blown recession

ABC  

It takes around three hours and 10 minutes to cross the Ditch — the 2,225 kilometre stretch of the Tasman Sea that separates Sydney and Wellington. While the Reserve Bank of Australia called a halt in rate hikes — leaving the cash rate at 3.6 per cent — the Kiwis doubled down, literally, with a double rate hike of 0.5 …

Rising interest rates have put some borrowers in trouble, but the RBA says the banks will be fine
1 year, 8 months ago

Rising interest rates have put some borrowers in trouble, but the RBA says the banks will be fine

ABC  

A significant group of borrowers are at serious risk of default, but Australian banks will be able to comfortably survive any losses, argues the Reserve Bank. Key points: Around 15 per cent of borrowers are forecast to have "negative spare cash flow" About 9 per cent of borrowers are expected to run out of savings buffers by the middle of …

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