The Reserve Bank of Australia is set to confirm a seventh consecutive rate rise when it meets today, putting more pressure on households before Christmas. Economists are predicting a hike of a quarter of a per cent, while others are saying it could be as much as half a per cent.
Up 50 basis points, they tell me.
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‘We’re heading into uncharted territory’: Expected rate rise will test borrowers’ limitsEconomists say recent home owners are at greater risk of mortgage stress as the interest rate is tipped to rise above serviceability buffers. TawarRazaghi Uncharted territory? I would have thought we were going back to normal rates.
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‘We’re heading into uncharted territory’: Expected rate rise will test borrowers’ limitsEconomists say recent home owners are at greater risk of mortgage stress as the interest rate is tipped to rise above serviceability buffers.
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RBA interest rate rise tomorrow could be ‘as high as 0.5 per cent’Sky News Political Editor Andrew Clennell looks at Australian Bureau of Statistics figures revealing why the Reserve Bank’s forecast interest rate rise tomorrow could be 'as high as 0.5 per cent'. “Admittedly, the increase in spending here is pushed along by inflation, but have a look at this – another monthly rise in spending – 0.6 per cent,” Mr Clennell said. Mr Clennell said spending on food, such as in cafes and restaurants, is up by more than one per cent month on month. “Surely the news on electricity price rises from the budget, together with higher rates and rents, will begin to slow spending and therefore inflation next month at least,” he said. “But that won't spare households and businesses from rate rises tomorrow.”
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Rising interest rates hit home prices again, stretching buyers to the limitHome prices have been dropping over the past six months as the Reserve Bank of Australia raised interest rates from a record low in May to curb red-hot inflation and — with interest rates set to keep rising — more falls are expected.
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Rising rates put brakes on home loan growthAs the RBA prepares to raise rates again, growth in the $2 trillion mortgage market is softening and analysts say the slowdown has much further to run. clancyyeates clancyyeates Inflation will be rampant unless rates go up harder
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