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Mark Bouris appeared on Sky News to review the record setting rate rises we’ve all experienced in 2022 and to discuss what he expects to happen in the near future.
“In the last eight months Australian mortgage holders have seen their repayments increase by about 41% from where they were in April this year,” Bouris told Sky News Australia.
When asked what he believes the RBA will do with interest rates at the first board meeting of 2023, Bouris said that there is “quite a divided view amongst all the commentators and economists around town”
“So someone like Gareth Aird from CBA (Commonwealth Bank) is saying that we will see a 3.35% cash rate, and that will more than likely be at the end of the rate rise cycle.”
“However, plenty of the money markets are sort of saying there are at least another three rate rises post 2023. So I guess everybody’s really trying to speculate what the growth numbers and inflation numbers will be in the January period? What are those numbers going to show us?
“So I’m expecting at least one more rate rise in February next year.”
Click the video above to see Mark’s entire appearance on Sky News.