Despite mounting public scrutiny, the Reserve Bank of Australia has decided to increase the official cash rate a further 0.25%, to 4.10%. This marks a cumulative increase in the cash rate of 4% since May 2022.
Mark Bouris strongly believes that the 11 rate rises over the past 13 months have “gone too far” and warned there could be drastic consequences if the RBA continues to target mortgage holders in attempting to control inflation.
“I think there’s every chance of a couple more rate rises.” That’s Mark Bouris’ blunt analysis following the release on Tuesday of the RBA’s minutes from their most recent Board Meeting.
Following Tuesday’s federal budget, delivered by Treasurer Jim Chalmers, there have been some criticisms that the lasting impacts of the budget may contribute to inflation and the rising cost of living.
This week the RBA lifted interest rates by a further 0.25%, bringing the official cash rate to its highest point in over a decade, at 3.85%. This latest rate hike left many bewildered, as homeowners continue to suffer more than most due to the RBA remaining intent on...
The RBA Board has officially decided to increase the cash rate by 25 basis points to 3.85%.
Bill Evans, Westpac’s Chief Economist, has even declared that Australia’s house price collapse “is largely over,” thanks to a large increase in migration, and a low supply of housing as contributing factors.
The Reserve Bank of Australia (RBA) is set to undergo its biggest overhaul in decades, with the current board set to lose its power to implement interest rate hikes.
“Not surprising.” That was Mark Bouris’ reaction on Sky News Australia when discussing alarming new numbers that tell a sorry story for first home buyers in Australia. There are less than half the number of Australian first home buyers than there were just two years...
