Households are bracing for interest rates to hit the highest level in a decade on Tuesday, but at least one economist says that still won’t be high enough to keep the economy strong. The Reserve Bank is expected to announce at 2.30pm the official cash rate will hit a decadeContinue Reading
Mortgage rates are expected to rise again for the 10th time in a row after the Reserve Bank board meets on Tuesday. But those hoping this will be the last of the rate hikes are in for a very big disappointment. The big four banks – the Commonwealth, Westpac, ANZContinue Reading
Household savings are tumbling, the economy grew less than expected and the inflation rate in the year to January was the second highest on record. That’s the reality of Australia’s economy as of Wednesday and while the 0.5 per cent quarterly growth in GDP signals the country isn’t quite yetContinue Reading
Two of Australia’s biggest banks have wasted no time in passing on the full 25 basis point rate hike announced by the Reserve Bank, which hinted that there was more mortgage pain to come. The ANZ and NAB announcement their increases just hours later. Both are passing on the fullContinue Reading
The fallout from Philip Lowe’s interest rate “apology” is growing, with the overwhelming majority of Aussies now calling for the RBA boss to face the music. On Monday morning, Dr Lowe issued a stunning apology to Australians who took out a mortgage – during a period of record property prices,Continue Reading