Westpac on Friday revised its forecast terminal for the cash rate, predicating it will now reach a peak of 4.1 per cent in May instead of the 3.85 per cent anticipated last October.
"Since October we have consistently held the view that the cash rate would peak in May at 3.85 per cent. We still see the date of the peak as May 2023 but now see that peak as slightly higher," Westpac Chief Economist Bill Evans said. Westpac is predicting the cash rate will reach a peak of 4.1 per cent in May. Picture: NCA NewsWire / David Geraghty
"However, the Board has adopted a more hawkish approach since the release of the December quarter inflation report."Mr Evans is however anticipating the RBA will hit pause on the cash rate in June as"there will be credible evidence that demand is slowing; labour markets are easing; and risks of a wage/price spiral have receded". A 25 basis point rise was settled on by the RBA, after itThe largest figures show inflation was up 7.8 per cent in the 12 months to December.
Why when we now know it’s corporate profits driving inflation?
90.18% of my salary goes in mortgage, forget school fee for kids, groceries…unbearable pain RBAInfo
Just an opinion, but I think 8% is not far off the mark for home loans this time next year. I've never seen the world so conflicted in my life time and to be honest we probably have the most inexperienced Government to manage it!
The RBA needs to realise that the families under mortgage stress are not the same people as those that have huge sums of money in the bank or under the matress that continue to benefit from earlier government spending.
In a rational market house prices should continue to fall, yes? That's a good outcome for people who want to buy?
Just watch Julia Albanese pull forward the voice referendum, He will use this as a reason to also call an early election, make no mistake, Albanese is a follower, not a leader, he cannot cope with criticism, he will panic, and call n election by this time next year!
Let me guess, it was a director who just made the down payment on his new super yacht right?