RBA governor Michele Bullock has sparked backlash for suggesting Australians going for haircuts and dentist visits are to blame for high inflation. Hinting that further interest rate pain may be on the way to tackle “homegrown” inflation, the central banker said on Wednesday that domestic factors were the dominant driverContinue Reading
Nearly two million Australian consumers have returned to the big four banks as cost-of-living pressures push them to the perceived “safest option”, new research suggests. Data from Finder’s consumer sentiment tracker shows 80 per cent of Australians bank with Commonwealth Bank, NAB, Westpac or ANZ — the highest number sinceContinue Reading
Cold sharpens the mind. When you’re freezing in the night and every thought is directed to the need to get warm it makes you focus. As I write this I’m doing the Vinnies CEO Sleepout, which is an effort to give the most privileged people an insight into what theContinue Reading
More pain for mortgage holders could be on the way after the Reserve Bank of Australia indicated the possibility of further interest rate rises. The RBA on Tuesday released the minutes of its April meeting where it left the official cash rate – which guides interest rates set by lendersContinue Reading
Homeowners hoping for a reprieve to interest rate rises have been told a pause is in sight despite the Reserve Bank governor warning inflation remained too high. A day after the bank lifted the official cash rate to an 11-year high of 3.6 per cent, governor Philip Lowe outlined theContinue Reading
Australians can expect more interest rate hikes in the coming months as the Reserve Bank says it will do “what is necessary” to drive down inflation. In its quarterly statement on monetary policy, released on Friday, the central bank said it remained “resolute” in its determination to return inflation toContinue Reading
As hundreds of thousands of Aussies brace for more mortgage repayment pain amid the Reserve Bank’s latest forecast, a financial expert has revealed the best way people can get their home loan right and avoid financial headaches. Marion Kohler, head of the RBA’s economic analysis department, delivered the grim newsContinue Reading
Australians already struggling with the cost of living crisis are bracing for further pain when their fixed rate mortgages end this year. One fifth of mortgage holders who signed up for a home loan during the pandemic period of ultra low interest will have their fixed rates rolled over byContinue Reading
Economists are tipping another interest rate hike after “disappointing” data released this week revealed inflation had climbed back to a 30-year high. The Reserve Bank of Australia is expected to raise the cash rate by a further 25 basis points from its current 3.10 per cent when its board meetsContinue Reading