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Are we done now with rate rises?!
The RBA yesterday paused for the first time since its interest rate tightening campaign began last May.
The bank wants to avoid crushing the economy and take more time to assess the lag impact from their 10 consecutive rate rises now implemented.
Despite strong employment there is mounting evidence that Australian households are now reducing spending. And the international economic and financial situation has become more fragile.
We’ve seen significant downward repricing of future interest rates by money markets for central banks around the world however many local economists are still predicting another 1 or 2 rate hikes in Australia still to come.
The pause in rate rises might spur some homebuyers and investors but whether or not the recent housing recovery trend in Sydney and Melbourne continues is still far from certain.
All the talking points in today’s Long Property Show. Episode #80. Thanks for tuning in.
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The Long Property Show provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. Nothing in the Long Property Show constitutes legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.
