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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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Guy Debelle saw this a mile away.
When you give a private bank control of a country what do you think will happen.
This is the scam of the centaury.
I feel very let down by our politicians who have done everything in their power to restrict our industries and exports which would ease things in bad times.
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.
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.
Up 0.25% …
Inflation at 7%+ rates now 3.35% how many years this goner drag on Phil?
9 rises and prices are going up not down
The RBA only raised rates 0.25% yet again. We are falling way behind the major economies like U.S UK and Canada who have rates over 4% by now. Philip Lowe continues to be far to cautions.
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.
Agreed but what about apra and the coalition government's dipshittery. They certainly should be taking a decent share of the blame.
Waiting for the interest rate hike vid, it’s been an hour already!!!!!
The Main Steam Media seriously lobbied for a smaller rate rise and the RBA delivered. They went hard at the RBA and the decision is to let inflation stick. The vulnerable people of our society have been thrown under the bus to save the housing market.
why do people still think this ALL NOT planned out. just like covaids..i mean people still think covaids just popped up out of nowhere and that governments around the world did the best they could in this unforeseen problem.. 33
They aren’t in it to help us Aussies that’s for sure.
She'll be right mate. That's what their upcoming CBDC is for. They'll just decide how much you can buy and at what price. And you will be happy.
RBA needs to raise rates by 100 percentage points!! Stop pussy footing in controling inflation
In the early 80s, the banks were offering everyone loans and ‘open chequebooks’.
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.
‘Darwin’s law’.
This time around , it’s like oh we can’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.
Increase domestic cash rate of a small population country to kerb international inflation.
Makes total sense if you are are a obscenely wealthy vulture.
2025 what would a loaf of bread cost by then $20
too little too late , those clowns need to be kicked out of their jobs.
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.
Seems like the RBA's approach was wrong yet again. The RBA used a softer approach on inflation than most other Central Banks. Now, as other countries are experiencing disinflation, Australia's inflation is still rising.
rba rate will be 4.5% and this translates to mortgage rates being 7.5% standard variable rate will be 8.25%.
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.
Everyone is cornered. The debtors and the creditors. Bank of America has publicly announced it’s preparing for debt default. It’s one of the rare occasions that CNN reported the truth)
CB’s are increasing gold reserves. Apparently, Australia’s “sovereign wealth fund” is investing in that direction also.
ATROCIOUS is lovely name for the RBA!
they wont, they will walk away after years on a cushy 6 fig salary, maybe retire to some insanely paid banking sector consultation job or charge high 5 figures for a speaking event while the plebs drown in debt and inflation
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.
It would seem like all world governments are completely incompetent, until you realize it’s all by design.