Good morning, it's Ainsley here with a roundup of the top news to kick off RBA decision day. Today's must-reads:
Consensus is for the Reserve Bank to deliver a second straight quarter percentage-point rise today. The RBA faces a tough task in deciding whether to persist with smaller interest-rate increases or U-turning back to outsized hikes to try to gain control of hotter-than-expected inflation. What’s a central bank to do?
It's known as the race that stops the nation, but this year it just may be the rates that stop the nation's...
The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Put a note in your diary at least two months before your fixed term is due to end, so you can start searching for a better deal," she said. "Lenders are eager for refinancers and will continue to put sharper rates on the table for borrowers willing to make the switch." "Borrowers on a fixed rate should stay on their toes as they get close to the end of their term. "People on a fixed rate shouldn't put their heads in the sand, but instead take action while they can.
The Reserve Bank is expected to raise the official cash rate by at least another 0.25 percentage points, the electorate is divided over multi-employer ...
“I think this is an attempt to unionise certain private workplaces.” Steggall said the “trigger for this to occur” would be unions entering workplaces to engage staff over their new rights. [eight days after its introduction](/link/follow-20170101-p5bte8) – has inflamed tensions over the pace of the 249-page Secure Jobs, Better Pay legislation.
The Reserve Bank will meet Tuesday to determine November's cash rate with economists at odds over whether the RBA will return to a 50 basis point increase.
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About $29.8bn worth of fixed rate mortgages will expire by the end of the year, which will mean an extra $641 in monthly repayments for homeowners by ...
More rate rises are likely on the way.” After six hikes, inflation is at a 30-year high. About $29.8bn worth of fixed rate mortgages will expire by the end of the year, which will mean an extra $641 in monthly repayments for homeowners by Christmas, as the Reserve Bank of Australia looks set to deliver even more bad news. “The current series of rate hikes has added almost $9000 to the annual cost of a $500,000 mortgage,” he said. “By that time, the cash rate will nearly surely be higher than 3.6 per cent, will most likely reach four per cent, and is unlikely to exceed 4.4 per cent. About $29.8bn worth of fixed rate mortgages will expire by the end of the year, it comes as the Reserve Bank of Australia looks set to deliver more bad news.
The Reserve Bank of Australia meets today to decide if any further cash rate rises are needed, following last month's 0.25 percentage point jump and ...
Ayden is an Editorial Producer with the ACM National team. This would bring the new cash rate to three per cent and touch its highest level since April 2013. Stay with ACM for the all the latest rates news, as well as the latest decision from today's RBA meeting here:
Households reeling from soaring inflation could be in for further pain when the Reserve Bank meets again today.
However a doubled hike would mean an extra $834 on the monthly payment. If it’s the average $500,000 loan, a 25-basis point rise will mean an extra $760 on your monthly repayment. To find out more, please see our Cookies Guide. When their fixed term ends in July next year, they could be facing an average revert rate of 7.18 per cent, if Westpac and ANZ’s cash rate forecasts are realised. That is expected to be followed by another .25 per cent rise in December. Matthew Quagliotto On this Melbourne Cup day it looks like a rate rise is the safe bet with a 25-basis point rise to take the cash rate to 2.85 per cent, but some banks and economists are tipping a .5 per cent hike in light of the shock inflation figures. Those occasions include 2010, when it was hiked by .25 per cent to 4.75 per cent and the previous year’s November meeting when it was hiked by the same amount to 3.5 per cent. Instead it is likely to be a 25-basis point rise - similar to the reined in figure delivered by the central bank last month - to take the cash rate to 2.85 per cent. Cash-strapped borrowers could still be forgiven for believing the RBA would once again go large with a 50-basis point rise - taking the cash rate to 3.1 per cent - after it was revealed last week that the country’s annual inflation for the September quarter had reached 7.3 per cent.