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The Latest Breaking News from Gareth Aird

Will the RBA keep raising rates as your wages fall? Economists say yes

ABS figures show no evidence of the wage-price spiral so feared by the Reserve Bank, and Jim Chalmers says wages growth ‘isn’t the problem’.

Crikey

What experts think of the RBA’s interest rate rises – and what they say is coming next

Five leading economists give their views on what’s on the horizon for Australia’s economic future

The Guardian - AU

How high will interest rates go? RBA flags more mortgage pain in 2023

Australians are being warned to brace for even more interest rate hikes after the Reserve Bank began 2023 with a fresh mortgage squeeze.

The New Daily

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Inflation peak to cause even higher mortgage bills in early 2023, economists say

Australian homeowners are being warned to brace for at least two more interest rate hikes in early 2023 after fresh inflation figures.

The New Daily

RBA tipped to lift cash rate again at board meeting as mortgage cliff looms

Economists widely predict 25 basis point rise but some say central bank may consider pausing rates after seven straight hikes

The Guardian - AU

Alan Kohler: Economists disagree on where interest rates are heading – shock

It’s hard to recall a time when the interest rate forecasts of economists were as widely, and wildly, different as they are now.

The New Daily

Fixed or variable? A look at how home loan rate options across Australia stack up

After crunching the numbers, it’s clear that mortgage holders shouldn’t just do nothing, says RateCity’s head of research

The Guardian - AU

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Reserve Bank’s dovish interest rate rise gives Jim Chalmers more cause to grin than grimace

The treasurer was used to empathising with borrowers after the RBA’s ‘supersized’ rises – instead, he got to talk about the budget

The Guardian - AU

Big issues at play could cause the RBA to make smaller cash rate hikes

Lower rises expected for the rest of the year, economists say, with the possibility of a pause in the longer term

The Guardian - AU

Today's public holiday costs the economy almost $2 billion, as shops close and tradies down tools

Subbies are taking the day off without pay and shops are closing rather than paying staff extra wages. Cafes and restaurants that do stay open are often lumping the extra cost onto the consumer.

ABC News

CBA warns of mortgage lags as Reserve Bank set for another super size interest rate rise

The Commonwealth Bank is warning of the risk a three-month mortgage lag poses to the economy if the Reserve Bank keeps raising interest rates aggressively.

ABC News

Australians abandon buying first home as loan costs outweigh property price drops

Reserve Bank is expected to again lift the cash rate, extending the most rapid spate of rises since 1994

The Guardian - AU

Mortgage borrowers and renters told to brace for big financial hit by December

The full budget impact of the second most aggressive interest rate hiking cycle in the Reserve Bank's history is still months from being felt by millions of households.

ABC News

Economists deeply divided over Reserve Bank's likely interest rate trajectory

The major banks are deeply divided about the outlook for interest rates, and the difference is worth about $284 a month to a typical recent home buyer. So who will be right?

ABC News

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The Guardian - AU

The Reserve Bank has to navigate a path away from inflation but the economic signals are months old

While backward-looking labour market data is still robust, property prices provide a taste of the deteriorating outlook

The Guardian - AU

Australia’s official interest rates expected to rise by half-percentage point, economists say

Experts predict RBA interest rate decision today will lift cash rate to 1.85%, marking a 175-basis point increase since May

The New Daily

‘Red hot’: Typical mortgage bills to rise $140 in August as inflation surges

Typical monthly mortgage bills are expected to rise another $140 next week after new data showed inflation continued rising in the June quarter.

ABC News

Federal Treasurer Jim Chalmers warns on budget outlook, New Zealand inflation surge hints at even bigger interest rate rises

Fresh inflation figures out of New Zealand sound a warning that the worst of price and rate rises may still be yet to come, says Australia's federal Treasurer as he warns Australians to brace for next week's "confronting" budget update.

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The Guardian - AU

Sydney house prices still 20% above pre-pandemic levels despite rising interest rates

Economists say while property prices could come down by up to 20%, affordability has ‘never been worse’

The Guardian - AU

Double-digit drops in capital city property prices likely after RBA rate hikes

Borrowers may find themselves in a ‘mortgage prison’ but low jobless rate means most households should still be able to pay off their loan, experts say

The Guardian - AU

Market response to Australia’s new Labor government will be ‘muted’, economists say

Analysts say election of Albanese government will not ‘shift the dial’ on economic forecasts

The Guardian - AU

Shock interest rate rise shows Australia’s economic exceptionalism is fading

RBA’s decision is, in the words of one economist, ‘a radical revision’. Could this turn a plateauing of property prices into a rout?

The Guardian - AU

Will the RBA lift the cash rate this week to counter inflation – or wait until after the election?

Analysis: The Reserve Bank of Australia finds itself in a strategic and political bind. Credibility is at stake

The Guardian - AU

Interest rates are set to start rising. What does that mean for mortgage holders and homebuyers?

The RBA could hike rates as early as May. Will borrowers race towards fixed-rate home loans?

AAP

Federal budget improves in red-hot economy

Economists expect Treasurer Josh Frydenberg's fourth budget will show a much-improved bottom line in an economy that is running red hot.

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