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Australian Cash rate – XtremeCuztoms

Category: Australian Cash rate

Borrowers Cross Fingers Ahead of Live Cash Rate Call

Mortgage holders will be feeling uneasy ahead of another close interest rate call that could see their monthly repayments blow out even further. The Reserve Bank of Australia (RBA) has been battling high inflation with higher interest rates since May last year and has so far handed out 400 basis points of increases. The board…


Up to 80 Percent Chance Recession Could Occur, Cash Rate to Peak at 4.8 Percent: RBA Internal Research

The probability of recession in Australia occurring before the end of 2024 could be as high as 80 percent, according to modelling by the Reserve Bank of Australia (RBA). Internal documents from September 2022 published on Thursday under Freedom of Information laws reveal the most likely period for recession has already passed. In a more…


Australian Interest Rates: How High, How Long?

Commentary Home buyers and businesses are suffering sticker shock as the Reserve Bank of Australia (RBA) lifted the official cash rate from 0.1 percent to 3.35 percent in the course of the nine months since April 2022. But they should probably be thinking of rates of this level as the “new normal.” Assuming lenders pass…


Australian Interest Rates: How High and for How Long?

Commentary Home buyers and businesses are suffering sticker shock as the Reserve Bank of Australia (RBA) lifted the official cash rate from 0.1 percent to 3.35 percent in the course of the nine months since April 2022. But they should probably be thinking of rates of this level as the “new normal.” Assuming lenders pass…


Australian Reserve Bank Makes Another Modest Hike, Lifts Cash Rate to 2.85 percent

The Reserve Bank of Australia (RBA) has raised the cash rate by 25 basis points to 2.85 percent, its seventh consecutive interest rate hike. Despite the most recent data revealing inflation jumped to 7.3 percent in the September quarter, the highest level since 1990, the RBA has chosen a much less aggressive interest rate hike…


A Soft Landing for the Australian Economy?

Commentary The economic news of the last couple of weeks in Australia is bleak at best and demoralising at worst. The skyrocketing prices of energy, meat, vegetables, and petrol have led to big increases in the cost of living. Vegetables have increased by 6.1 percent, and beef and veal have increased by 8.1 percent. Petrol…


Industry Warns Australian Government Against Wage Increase After Aggressive Cash Rate Hike

Australia’s peak industry group said the country was at risk of a “death spiral” of wages, inflation, and interest rates. “We are unfortunately in a period where we are going to see increasing interest rates if we continue to see calls for wage increases that are not sustainable,” Australian Industry Group CEO Innes Willox told…


Australian Wages Growth Lifts Again, Remains Far Below Inflation

Australian wages growth has accelerated for the second consecutive quarter but continues to lag inflation, according to newly released data from the Australian Bureau of Statistics (ABS). The annual rate of wages growth was 2.4 percent, and while it is the highest annual rate recorded since December 2018, it fell below expectations. ABS said it…


Australia Hikes Official Interest Rate for First Time in Over a Decade

The Reserve Bank of Australia (RBA) has raised the cash rate for the first time in over a decade, up 0.25 percentage points to 0.35 percent. The decision came earlier than what was initially indicated in response to March quarter inflation figures, released on April 27, that showed annual inflation had surged to 5.1 percent,…


Reserve Bank of Australia Hints at First Interest Rate Hike in Over a Decade

The Reserve Bank of Australia (RBA) is no longer reiterating its willingness “to be patient,” a line that previously replaced its guidance that the cash rate would not rise before 2024, meaning an interest rate hike may be on the horizon. In the RBA board minutes for April, it was noted that both inflation and…