Monthly mortgage repayments are expected to remain the same when the Reserve Bank of Australia announces its official cash rate call for May on Tuesday. Ahead of the meeting, analysts forecast the central bank would be leaving interest rates at 4.35 per cent — where they have been since November last year.
chief economist Brendan Rynne said a budget in "expansion mode" would be the biggest threat to inflation taking off again. He said government spending as a total of GDP was too high, running at around 27 per cent. The cash rate will be announced at 2.30pm on 7 May. Treasurer Jim Chalmers will deliver his Federal Budget speech at approximately 7.30pm on 14 May.
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