A leading finance expert has unleashed a scathing attack on the Reserve Bank of Australia’s (RBA) decision to hike interest rates for an 11th time, labelling the move a “slap in the face” for mortgage holders. On Tuesday, the cash rate was increased by another 25 basis points, bringing itContinue Reading
The Reserve Bank is tipped to keep rates on hold for the second month in a row after inflation data last week came in below forecasts. Most economists and financial markets are predicting the official cash rate will stay at 3.6 per cent when the RBA meets on Tuesday forContinue Reading
Homeowners will face a double-barrel assault from rising cost-of-living pressures and 11-year high interest rates, with the Reserve Bank delivering a surprise cash rate hike of 25 basis point on Tuesday. Australia’s official interest rate now sits at an 11-year high of 3.85 per cent. Compare the Market’s General ManagerContinue Reading
Amid a slew of rising interest rates, high inflation and significant data breaches, the boss of one of the big four banks has written to four million customers. National Australia Bank CEO Ross McEwan sent the email to NAB customers on Tuesday, reminding people “keeping your money safe and supportingContinue Reading
One of the nation’s biggest consultancy firms has spectacularly unleashed on the Reserve Bank of Australia, slamming the board for “tempting fate” and putting the economy “on a knife-edge”. According to the newly-released Deloitte Access Economics Business Outlook, the RBA’s decision to pass two rate rises earlier this year hotContinue Reading
Last week’s National Press Club address by Reserve Bank of Australia (RBA) governor Philip Lowe included this chart showing that the rise in mortgage rates in Australia has been more severe than most other developed nations: Australia’s rapid increase in average mortgage rates comes despite the RBA increasing official interestContinue Reading
Dire economic data out of the US has renewed fears that a recession is now almost unavoidable in the near future. In recent days, data has revealed the Nasdaq 100 stock market index is underperforming at the same time as the jobs market weakened and Treasury 10-year yields dropped toContinue Reading
A Wall Street insider has shared a dire warning about the state of the US economy, predicting that the nation will be plunged into recession by year’s end. JPMorgan Asset Management’s chief investment officer Bob Michele told Bloomberg Television that while “you don’t know exactly where it’s going to hit”,Continue Reading
A loan expert has weighed in on the whether big or small banks are giving bang for your buck as interest rates soar. Mortgage holders have sweated through 10 consecutive cash rate rises in less than a year as the Reserve Bank of Australia tries to force down inflation. AllContinue Reading
Despite the crisis in banking which many have put down to interest rate rises, they’re still going up. The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector. TheContinue Reading