The RBA first hiked the cash rate in May by 25 basis points before doubling down in June, increasing it by 50 basis points.The Reserve Bank has handed down its rates decision.Treasurer Jim Chalmers said the announcement was “very challenging news for hardworking Australians already doing it tough”.“Average homeowners owing $330,000 will now have to find another $90 a month at the same time as they try and keep up with the costs of petrol, electricity, groceries and other essentials.
“The average homeowner who isn’t on a fixed rate will see their monthly repayments jump by $424 compared to what they were paying in April this year,” he said. The Fair Work Commission last month delivered a 5.2 per cent rise - equivalent to about $40 per week.“Global inflation is high,” he said in a statement.
“Global factors account for much of the increase in inflation in Australia, but domestic factors are also playing a role,” Lowe said.
Shouldn't live about your means, why buy a house just to impress your friends when you could have bought something a bit cheaper that you can afford.
DUTCHFARMERS
Fantastic looks like it’s the streets for me soon thanks for nothing Reserve Bank
The wrong approach to slow down the economy, they should be targeting the cause of the cost of inflation .. FUEL, or have they got shares in commodity prices that are keeping them in their fat cat lifestyle 🤔
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