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After last week’s Reserve Bank interest rate increase, I warned of the possibility that rising rates coupled with rising petrol prices had the possibility of crushing Australian household budgets. Reinforcing my point, this week’s ANZ-Roy Morgan consumer confidence figures are down 20 per cent – the worst result since the oil crisis in 1973. Consumers… Read more »
The Reserve Bank wants to cut interest rates – but it doesn’t know when, and it can’t guarantee that cuts will happen at all. That’s the bottom line from Tuesday’s RBA decision to keep rates on hold, and the clear message from Michele Bullock’s press conference following the announcement. Interest rate horoscope The chart below… Read more »
“All I want for Christmas is a rate cut,” many homeowners are saying. Well, I’m afraid that wish is looking unlikely now. Reserve Bank Governor Michele Bullock had warned us that a September-quarter CPI trimmed mean of 0.9 per cent would be a “material miss” for the RBA’s forecasts. On Wednesday, the actual figure came… Read more »
Unpredictable economic times have us all biting our fingernails. Here’s why the RBA is playing it safe. It was no surprise recently that the Reserve Bank kept official interest rates on hold at 4.1 per cent even though inflation is now back down in the preferred 2-3 per cent target range. As I mentioned in… Read more »
We’ve been bombarded by coverage of the federal budget, which is likely to only remain relevant for a couple of months in light of the upcoming federal election. But here are my quick thoughts on it: Economy looking OK (for now) The economy seems to be bouncing back with Treasury forecasts seeing economic growth accelerate… Read more »
With a rate cut comes an increase in property values … But the higher prices might mean you now need to borrow more. Here’s how to make yourself more appealing to a lender. Be honest with yourself While rate cuts will improve borrowing power, be warned they won’t necessarily bring homeownership dreams closer in reach.… Read more »
Australians have the highest proportion of variable home loans in the world, but is it time to switch to a fixed rate home loan, or have a cocktail of fixed and variable? I know that sounds crazy when there is huge anticipation for a cut in interest rates from the Reserve Bank on the horizon.… Read more »
As I’ve been saying, there will be no interest rate cut until 2025. Let’s take a closer look at the new CPI figure … Before the latest quarterly CPI figure was released, financial markets had factored in a 30 per cent chance of an interest rate cut at the December Reserve Bank board meeting. After… Read more »
Don’t wait for the RBA to cut rates. Do it yourself with these home loan hacks. The Reserve Bank is not going to save borrowers by cutting interest rates anytime soon. That is the very clear message from RBA Governor Michele Bullock recently. But rather than wait for a future official rate cut to ease… Read more »
There is always a blame game when it comes to interest rates, and now to RBA is pointing the finger … I’ve been saying for a while that Australians don’t deserve another interest rate hike to fight inflation because we are doing the right thing by reigning in inflation. Cost increases are mostly coming from… Read more »
