Inflation surge could see super-sized interest rate hike in June, economists warn
2 years, 7 months ago

Inflation surge could see super-sized interest rate hike in June, economists warn

ABC  

The latest official inflation figures are expected to be the highest since the global financial crisis, and at least one leading economist has warned they could trigger an extra large first interest rate hike from the Reserve Bank. Key points: The typical forecast is that consumer prices rose 4.6 per cent over the past year Economists expect that the inflation numbers released on Wednesday will seal the case for a June interest rate rise Westpac is forecasting that June interest rate rise will be 40 basis points, while most other forecasts are for a 15-basis-point increase The Australian Bureau of Statistics Consumer Price Index for the first three months of the year comes out on Wednesday at 11:30am AEST. Westpac tips 40-basis-point rate rise If inflation comes in close to its forecast, and unemployment falls down to 3.8 per cent as Westpac expects when the April figures are released in mid-May, the bank is now expecting the Reserve Bank's first move to be an unusually large one. Loading SoundCloud content Even a financial crisis couldn't stop rate rises in 2008 Mr Evans says the Reserve Bank will tread carefully because Australia's current level of household debt makes people extremely sensitive to interest rate rises, hence Westpac's forecast of the cash rate target topping out at 2 per cent — rival CBA has an even lower forecast for the rate peak, of just 1.25 per cent. However, he also told RN Breakfast that the Reserve Bank is very committed to its 2-3 per cent inflation target, as demonstrated the last time price rises threatened to get out of control in 2007-08.

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History of this topic

RBA Is More Confident on CPI, But Too Early to Declare Victory
12 hours, 9 minutes ago

RBA Is More Confident on CPI, But Too Early to Declare Victory

Live Mint  

-- Australia’s central bank is more confident that inflation is moving sustainably toward target but it’s still too soon to conclude the battle is won given a recent pick-up in consumption and a still-tight labor market, minutes of the December meeting showed. The Reserve Bank’s board discussed scenarios in which future policy would be eased to boost economic growth or …

RBA forecast scenarios include interest rate hikes
1 week, 4 days ago

RBA forecast scenarios include interest rate hikes

ABC  

Samantha Donovan: To interest rates now, and while most analysts think another hike is highly unlikely, the Reserve Bank has indicated today nothing will be off the table next year when it comes to monetary policy. David Taylor: Betashare's chief economist, David Bassanese, says the Reserve Bank also has to factor in higher levels of government spending and how that's …

The RBA is preparing for all economic scenarios, including an interest rate hike
1 week, 4 days ago

The RBA is preparing for all economic scenarios, including an interest rate hike

ABC  

The Reserve Bank may have dropped the phrase "not ruling anything in or out" in its interest rates commentary, but that does not mean an interest rate hike is completely out of the question. That is because, as Dr Hunter explained, it would mean the RBA's key policy goal of achieving its mid-point annual inflation target of 2.5 per cent …

Sharply rising bond rates could stem Wall Street's 'relief rally' and push interest rate cuts further into the future
1 month, 2 weeks ago

Sharply rising bond rates could stem Wall Street's 'relief rally' and push interest rate cuts further into the future

ABC  

The apparent roar of approval was almost deafening. It's a world that, down the track, promises a return of inflation and permanently higher interest rates as America shifts to a more protectionist global stance that punishes China and, by extension, hurts Australia. Since mid-September, US money markets almost inexplicably have begun forecasting a rise in interest rates. The bond is …

RBA governor Michele Bullock gives blunt spending warning to Treasurer Jim Chalmers as election nears
1 month, 2 weeks ago

RBA governor Michele Bullock gives blunt spending warning to Treasurer Jim Chalmers as election nears

ABC  

Treasurer Jim Chalmers has received a blunt warning from Reserve Bank of Australia governor Michele Bullock about the inflationary consequences of any potential splashy pre-election spending promises as she left the door open to even higher interest rates. Mr Chalmers said in the wake of Labor's Queensland election loss, the coming federal election "was never going to be — from …

RBA leaves cash rate at 4.35pc, acknowledging it's 'restrictive,' while ASX loses ground — as it happened
1 month, 2 weeks ago

RBA leaves cash rate at 4.35pc, acknowledging it's 'restrictive,' while ASX loses ground — as it happened

ABC  

Here are some highlights from the RBA Board's statement. Underlying inflation remains too high: "Inflation has fallen substantially since the peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance. "Headline inflation was 2.8 per cent over the year to the September quarter, down from 3.8 per cent over the year …

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 …

More people are seeking help as Australia's economy slows down, RBA governor acknowledges
3 months, 2 weeks ago

More people are seeking help as Australia's economy slows down, RBA governor acknowledges

ABC  

Reserve Bank governor Michele Bullock says she is aware that more people than usual are seeking help from community organisations as Australia's economy slows down and unemployment rises. And the number of owner-occupiers with variable-rate mortgages who are in a "particularly challenging situation" is also rising, but the RBA is doing what it can to bring inflation down, re-balance the …

The RBA is making confusion about inflation and the cost of living even worse
3 months, 3 weeks ago

The RBA is making confusion about inflation and the cost of living even worse

ABC  

There's a paradox about the way we respond to threats to the cost of living. At the same time, when the cost of living climbs enough to push inflation beyond the Reserve Bank's target, the bank pushes up interest rates in an attempt to drive measured inflation down. Sharp interest rate increases are a problem The response of the Reserve …

The RBA expects to keep interest rates on hold. It's bad news for mortgage holders and a reality check for the government
4 months, 2 weeks ago

The RBA expects to keep interest rates on hold. It's bad news for mortgage holders and a reality check for the government

ABC  

It was the understatement of the week. When Reserve Bank governor Michelle Bullock popped the bubble of anticipation around an interest rate cut any time soon, she acknowledged "this is not what people want to hear". The idea of a rate cut before the end of the year "doesn't align" with the RBA board's current thinking. "I think it's hard …

'RBA to hike in August', says investment bank as property market pushes on up
5 months, 3 weeks ago

'RBA to hike in August', says investment bank as property market pushes on up

ABC  

In short: The Australian property market will remain robust this year and next, according to several analysts. Australian property prices are expected to increase by as much as 5 per cent in calendar year 2024, according to the June PropTrack Property Market Outlook Report. "We got capital cities a little stronger at 6 to 7 per cent for the 2024 …

RBA keeps interest rate at 4.35 per cent, says rate rise could be on cards as governor says she's not expecting a recession in Australia
6 months ago

RBA keeps interest rate at 4.35 per cent, says rate rise could be on cards as governor says she's not expecting a recession in Australia

ABC  

The Reserve Bank has kept interest rates on hold at 4.35 per cent. "Inflation has fallen substantially since its peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance," the Board said. RBA governor warns the narrow path is 'getting a bit narrower,' but doesn't expect a recession The RBA board …

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits
6 months, 3 weeks ago

RBA Sees Some Households Struggling, Suggesting Rate-Hike Limits

Live Mint  

-- Australia’s inflation is showing persistent strength and weighing heavily on the finances of some households, a senior Reserve Bank official said, highlighting the limits to further interest-rate increases. “The board are absolutely focused on the fact that inflation is clearly still above the target band,” RBA Assistant Governor Sarah Hunter said at a conference in Sydney on Thursday, referring …

RBA should now 'in theory' hike interest rates in June, but will it?
6 months, 3 weeks ago

RBA should now 'in theory' hike interest rates in June, but will it?

ABC  

Inflation is rising again, and that's a problem for both the government and the Reserve Bank. The annual rate of inflation has ticked up slightly in April to 3.6 per cent, from 3.5 per cent in March, but economists say it's enough to put even more pressure on the Reserve Bank. "At the moment consumers are the ones copping all …

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA
6 months, 3 weeks ago

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA

ABC  

In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. According to the Australian Bureau of Statistics, an underlying measure of inflation — called "trimmed mean" inflation — also picked up again in April, from 4 per cent to 4.1 per cent. "It does not appear that the RBA …

The Reserve Bank's interest rate dilemma: Households are hurting but inflation remains stubbornly high
7 months, 2 weeks ago

The Reserve Bank's interest rate dilemma: Households are hurting but inflation remains stubbornly high

ABC  

Please make it stop. That's what Michele Bullock must say to herself after RBA board meeting days, when journalists conjure a dozen different ways to ask the same question — what's going to happen with interest rates? Over the past year, the inflation rate for discretionary goods and services has been within the RBA's 2-3 per cent target band, at …

'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 …

RBA leaves door open to interest rate cuts and rises as unemployment risks rise
9 months ago

RBA leaves door open to interest rate cuts and rises as unemployment risks rise

ABC  

What a difference six weeks makes. Economists and traders expect the US Federal Reserve to lead off a global round of interest rate cuts, but recent economic data suggests the RBA should beat them to it. CBA's head of Australian economics Gareth Aird points out that the RBA board made seven references to "uncertainty" in its one-page post-meeting statement, up …

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", …

Did the Reserve Bank hit the brakes too hard? Why Australia's economy is heading into reverse
9 months, 2 weeks ago

Did the Reserve Bank hit the brakes too hard? Why Australia's economy is heading into reverse

ABC  

The softening-up process is already underway. There's now every possibility the GDP numbers could tip negative, giving the first real indication that Australia's economy is shrinking under the weight of 13 interest rate hikes in quick succession. The RBA lifted the cash rate to 4.35 per cent last November, but it hasn't fully flowed through to the whole economy. Prepare …

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable
10 months ago

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable

ABC  

In short: Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. The Reserve Bank board says "a …

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 …

RBA leaves interest rates unchanged at 4.35pc after first meeting of the year, ASX ends lower — as it happened
10 months, 2 weeks ago

RBA leaves interest rates unchanged at 4.35pc after first meeting of the year, ASX ends lower — as it happened

ABC  

The Reserve Bank has released its latest forecasts for the economy. While lowering its inflation forecasts to reflect the latest December quarter Consumer Price Index, which came in well below its previous expectations, it appears to be wedded to its view that services inflation is sticky and will take a long time to tame. The RBA has taken 0.6 of …

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 …

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 …

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 …

Michele Bullock says RBA 'will not hesitate' to increase rates if inflation takes longer than expected to return to target
1 year, 2 months ago

Michele Bullock says RBA 'will not hesitate' to increase rates if inflation takes longer than expected to return to target

ABC  

Reserve Bank of Australia governor Michele Bullock says the central bank "will not hesitate" to increase the cash rate over fears inflation could take longer to return to target than its current "late 2025" forecast. Key points: The RBA has left the cash rate on hold at 4.1 per cent since June as inflation began to ease But governor Michele …

A rising number of households on the cusp of financial stress, but RBA says banking system isn't at risk
1 year, 2 months ago

A rising number of households on the cusp of financial stress, but RBA says banking system isn't at risk

ABC  

Australian homes and businesses are vulnerable to financial stability risks as rising inflation and interest rates continue to pressure the global economy. Key points: Australia's financial system is well-placed to deal with global economic shocks The share of households falling behind on their mortgage payments has picked up a little Despite rising rates, the vast majority of households are servicing …

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 …

The RBA says the fight against inflation has entered a new phase. Here's what it means for interest rates
1 year, 4 months ago

The RBA says the fight against inflation has entered a new phase. Here's what it means for interest rates

ABC  

Australia has entered a new frontier in its fight against inflation after the Reserve Bank left interest rates on hold at 4.1 per cent for the second month in a row at its August meeting. It comes back to the fact the RBA's cash rate is only a benchmark — and it's only part of a more complicated puzzle used …

Inflation slows more than expected, chance of an August RBA interest rate rise reduced
1 year, 4 months ago

Inflation slows more than expected, chance of an August RBA interest rate rise reduced

ABC  

Consumer prices rose 0.8 per cent over the three months to June, making a 6 per cent increase over the past year. Key points: Quarterly inflation slowed from 1.4pc in March to 0.8pc in June The annual rate of headline inflation is 6pc, down from 7.8pc in December Economists and financial traders now believe an RBA interest rate rise next …

RBA holds interest rates steady, and homeowners breathe a sigh of relief — but for how long?
1 year, 5 months ago

RBA holds interest rates steady, and homeowners breathe a sigh of relief — but for how long?

ABC  

The RBA has left its cash rate target unchanged at 4.1 per cent — and home owners aren't the only ones breathing a sigh of relief. In the final paragraph of the Reserve Bank governor Philip Lowe's statement on Tuesday he said: "Some further tightening of monetary policy may be required to ensure that inflation returns to target in a …

Companies chasing profits amid high inflation risks an Australian recession, RBA warns
1 year, 6 months ago

Companies chasing profits amid high inflation risks an Australian recession, RBA warns

ABC  

The Reserve Bank has pointed directly to the inflation elephant in the room — that "some" companies are indeed helping to drive inflation with aggressive price increases. Today, for the first time, the Reserve Bank referenced that “some firms” were lifting their prices past levels of inflation, in effect locking those previous price rises into future pricing and making the …

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy
1 year, 7 months ago

RBA's rate hikes creating inflation, Ross Garnaut says, calling for radical overhaul of economic policy

ABC  

Australia's economy has become increasingly dominated by powerful firms that are extracting "economic rents" from the system, economist Ross Garnaut is warning. "There have been big changes over the 21st century that greatly affect Australia's capacity to deliver rising standards of living to most people in a growing population," Professor Garnaut said. Professor Garnaut said "economic rent" referred to income …

RBA forecasts harsher short-term pain for longer term gain
1 year, 7 months ago

RBA forecasts harsher short-term pain for longer term gain

ABC  

The latest Reserve Bank economic outlook brings both bad and good news for Australians. Economic growth over the year to June is expected to be just 1.7 per cent, more than half a percentage point lower than was forecast just three months ago. The RBA had expected workers to enjoy a 4.7 per cent jump in their hourly pay rates …

RBA delivers 'massive' interest rate hit to millions of Australians already struggling with overwhelming cost pressures
1 year, 7 months ago

RBA delivers 'massive' interest rate hit to millions of Australians already struggling with overwhelming cost pressures

ABC  

It was designed to shock, and it did just that. On Tuesday, the Reserve Bank of Australia increased its cash rate target — after a month's pause — by 0.25 percentage points, to 3.85 per cent. "Don't forget that the RBA estimates that 15 per cent of variable rate borrowers will move into negative cash flow by year's end if …

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce
1 year, 7 months ago

Reserve Bank hikes cash rate to 3.85 per cent, ASX hits three-week low, Qantas appoints new CEO to replace Alan Joyce

ABC  

Here are some comments from Callam Pickering, an economist at global job site Indeed. He's just put out this note on the rate decision, which I think is worth quoting in full: "The flow of recent economic data provides a compelling case for further rate hikes,” he said. "The RBA anticipates that further rate hikes may well be needed to …

RBA boss Philip Lowe defends shock interest rate rise, saying 'there is a limit' to inflation patience
1 year, 7 months ago

RBA boss Philip Lowe defends shock interest rate rise, saying 'there is a limit' to inflation patience

ABC  

Just a month after the Reserve Bank of Australia kept rates on hold — to assess the economic fallout from an unprecedented string of 10 consecutive rate hikes — on Tuesday afternoon it shocked most experts with another rise. Key points: The RBA raised interest rates from 3.6 to 3.85 per cent RBA governor Philip Lowe says inflation needs to …

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 …

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 …

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 …

Reserve Bank interest rate pause welcomed by mortgage borrowers as Lifeline prepares to meet with governor Philip Lowe
1 year, 8 months ago

Reserve Bank interest rate pause welcomed by mortgage borrowers as Lifeline prepares to meet with governor Philip Lowe

ABC  

Mortgage holders and support services have welcomed the Reserve Bank's decision to pause months of interest rate rises amid surging living costs, mortgage repayments, and more young people experiencing financial distress and accessing support services for the first time. Key points: The RBA kept the cash rate on hold at 3.6 per cent during its April meeting The central bank …

Inflation keeps falling, increasing chances of a Reserve Bank interest rate pause
1 year, 8 months ago

Inflation keeps falling, increasing chances of a Reserve Bank interest rate pause

ABC  

The official measure of inflation has fallen for the second month in a row, easing pressure on the Reserve Bank of Australia to hike interest rates next week. Key points: Annual inflation has fallen to 6.8 per cent, from a peak of 8.4 per cent in December Most categories of goods and services recorded smaller price increases than they had …

Federal Reserve hikes interest rates but gives RBA room to pause
1 year, 9 months ago

Federal Reserve hikes interest rates but gives RBA room to pause

ABC  

Never waste a crisis. "We did consider that in the days running up to the meeting," Powell told reporters in a press conference after today's rate rise decision, referring to a period where the banking crisis threatened to spiral out of control. But Powell was keen to maintain a link between the US banking crisis and inflation when explaining why …

Interest rate rises causing 'hidden poverty' in South Australia, even among those usually considered affluent
1 year, 9 months ago

Interest rate rises causing 'hidden poverty' in South Australia, even among those usually considered affluent

ABC  

They are the victims of "hidden poverty" who are now accessing support for the first time in their lives. Key points: Interest rates have risen 10 times in a row More people are seeking help from charities and financial advisers The state government is focusing on increasing housing supply Ten interest rate rises in a row are biting hard into …

Why RBA interest rate hikes could end by September – but brace for at least one more
1 year, 9 months ago

Why RBA interest rate hikes could end by September – but brace for at least one more

ABC  

Tuesday's 10th successive Reserve Bank interest rate hike is the culmination of a process that has added $1,080 to the monthly cost of payments on a $600,000 variable mortgage. I've calculated this increase in payments — which amounts to $12,960 per year — by comparing payments on the National Australia Bank's base variable mortgage rate before the Reserve Bank started …

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting
1 year, 9 months ago

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

ABC  

Federal government ministers have acknowledged an increase in distress calls to crisis support hotlines over cost of living, but say the fight to rein in inflation must continue. Key points: The federal government has acknowledged a spike in financial distress calls to crisis hotlines Reserve Bank governor Phillip Lowe says mental health concerns of Australians weighs heavily on him The …

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