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The RBA Is Cornered!

Analysts are now expecting at least a 25-basis point hike today, as the trimmed mean for inflation rises to 6.9 percent.

We know higher mortgage rates are ahead, so they will be balancing that factor too, along with the return of China after the lockdowns.

We also think their very credability is on the line, ahead of the upcoming review report.

The latest edition of our finance and property news digest with a distinctively Australian flavour.

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29 Comments

  1. Here's the problem for central bankers. The inflation is largely shock driven. They need a recession to totally collapse demand, because just simply raising rates is not going to deal with supply chain issues that is complicating things and halting now will only serve to keep inflation elevated and way above their target ranges, thus the elevated risk is, that inflation regains upside velocity. Janet Yellen spelled it out the other day. NO recession with unemployment near record lows.Ā 
    Not a position I'd want to be in. But then they had the paint brush and knew they had walls on either side of them.

  2. Wow my mortgage increased is a total of $15 per fortnight, over three rate rises, oh, oh the stress its too much to handle. How will I go without one fast food per fortnight? (Sarcasm intended). Please help me Depression Financial Analytics, we are both going under financially. I bet, you sorry arse renters out there, waiting for a property crash, are paying BIGGER rent increases than my mortgage increase.

  3. In the early 80s, the banks were offering everyone loans and ā€˜open chequebooksā€™.
    Those who were not fiscally responsible got smashed when interest rates shot up.
    There was no call to save or support these people.
    Many lost their homes and businesses.
    ā€˜Darwinā€™s lawā€™.
    This time around , itā€™s like oh we canā€™t let the stupid people lose their homes or businesses
    I say let nature take its course.
    How else will they learn.
    Rough, I know , but mistakes not learned are doomed to be repeated.

  4. Greens clown Nick McKim, who knows f all about economics, has in no uncertain terms suggested that Jim Chalmers should use his powers under the RBA act to reverse the cash rate hike of today and to force Phil Lowe to resign. This is totally out of order and is blatant political interference with the INDEPENDENT Reserve Bank. Nick McKim needs to be sanctioned by the relevant authorities and lose HIS job over this.

  5. I wonder how many more months before some of your followers realise like you should Martin that jacking up rates to solve supply driven inflation, impacting and crippling only 35% of home owners, whilst releasing cash flow to investors and savers is both never going to fix normal inflation and will never fix what we have which is supply driven inflation, caused by a war and the energy crisis and supply issues that followed it. For those thinking we for some reason need to keep pace with others, why? Our exchange rate has strengthened and jacking up rates overseas hasnt fixed supply driven inflation either. Im not a fan of the RBA but sorry I think very soon time will show their more cautious approach, if you want to call the highest interest rate increases in 40 years cautious, actually sensible given the doubling of mortgage costs, massive increase in rentals and cost of living pressure, with likely big recessions to come in those countries. The heavy lifting also should be with our pathetic government. Will be tough enough times ahead for many, no neec to destroy a generation of Australians on interest rates that wont impact supply driven inflation on mostly essentials, only fixing the supply will fix that.

  6. Everyone is cornered. The debtors and the creditors. Bank of America has publicly announced itā€™s preparing for debt default. Itā€™s one of the rare occasions that CNN reported the truth)
    CBā€™s are increasing gold reserves. Apparently, Australiaā€™s ā€œsovereign wealth fundā€ is investing in that direction also.

  7. People saying that 'they trapped themselves' is just not a fair comment. The RBA said no rate increases till 2024, and they also fostered the feeling (from 2024) that rates wouldn't shoot up like they have. Add to this the difficulty in securing a place (and for what price) in the rental market. And also add to this the normal feeling of wanting your own place. They were trapped by the RBA, the rental market and the property market, as well as themselves.

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