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Yellow Brick Road Home Loans Executive Chairman Mark Bouris told Sky News that Australia is very close to “going overboard” and pushing interest rates too high as we head into 2023.
He said 2023 is “going to be a difficult year” for both the RBA and for Australian households, as the RBA continues to try to manage inflation without creating an impossible environment for mortgage holders.
“The most difficult part is when will the rate rises stop relative to inflation?”, he told Sky News Australia.
“If I read the reserve bank governor’s report from Tuesday’s board meeting properly and if I look at what the markets are saying, we’ve probably got at least two more 0.25% rate rises in February and March next year.”
Click the video above to learn about the difficult decisions the RBA is facing early on in the new year, and the impacts that will have on mortgage holders.