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We means-test so many other policies, so why not monetary policy? I’ve been asked many times in this rising interest rate environment: why can’t interest rate increases be means-tested to protect low-income families? It’s a good question. Interest rates and financial stress The Reserve Bank’s cash rate is really just the benchmark, or foundation, for… Read more »
A third consecutive rate hike from the Reserve Bank of Australia landed this week… like a bolt of lightning. The impact was devastating … Combined with stubborn inflation, volatile oil prices and ongoing cost-of-living pressures, it’s the latest blow in a long stretch of them. For Australians already struggling with mortgage repayments, tenants drowning in… Read more »
Remember when petrol cost under a dollar a litre, a pub lunch was $10, and a soft serve from McDonald’s was 30 cents? These ‘price memories’ shape what we think we should be charged today. So much so that every tap of the card or phone can feel like a bit of a rip-off. And… Read more »
With interest rates on the rise again, so are your loan repayments … and that’s a big hit on your family budget. So, now is the time to look at better managing your debt and trying to reduce your most expensive loans. Credit card debt can be a tough burden to carry, especially when unnecessarily… Read more »
The Reserve Bank is under pressure to lift interest rate. The much-anticipated December quarter inflation rate was a shocker. And when the Reserve Bank Board meets on Tuesday 3 February, they will have to seriously consider raising official interest rates. It’s not just the actual figures that would be concerning the RBA, it’s more the… Read more »
The reason for a rate ‘pause’ makes good sense … The Reserve Bank board have defied market expectations and kept official interest rates on hold at 3.85 per cent. Markets were overwhelmingly forecasting a 0.25 per cent cut, which would have been welcome relief for millions of mortgage holders looking to ease the cost-of-living crisis.… Read more »
With a rate cute and potentially more on the horizon, how can you make the most of it? Here’s what I think … A 0.25 per cent cut in interest rates wasn’t a big surprise to me at the recent Reserve Bank board meeting. What was, howver, is that they debated a 0.5 per cent… Read more »
Since Paul Keating floated the Australian dollar 30 years ago, the average value against the US dollar has been in the mid to late US70 cent range. That’s a big range for such a small economy. In fact, the Aussie dollar is one of the most traded currencies in the world. A high Australian dollar… Read more »
With no interest rate relief coming in the near future, it’s time to do something about it yourself. Don’t wait for the RBA, take control with this strategy to give yourself a rate cut: Negotiate a lower rate Just one-in-three Aussie mortgage holders have tried to negotiate a lower rate this year. Amazingly, 70 per… Read more »
Interest rates will stay high well into next year, making household debt management a huge priority for Australians. Loan repayments are crippling family budgets at a time when cost of living pressures are squeezing spending and credit card balances rise to plug the gap. Debt consolidation has become the ultimate cure to manage the total… Read more »
