Inflation might be coming off its highs, but workers' wages are still falling well behind rising prices as mortgage holders face the prospect of another interest rate rise.
The minutes from the Reserve Bank of Australia's last board meeting will offer some context for the last cash rate decision and, hopefully for borrowers, further signs the bank is readying for a pause.Â
A speech by the Reserve Bank governor will be scrutinised for any insights into plans for further interest rate hikes as borrowers feel the pain of 10 consecutive increases.
One of the nation's biggest consultancy firms has painted a bleak picture for the year ahead, saying Australians are at the mercy of the central bank while warning of a possible recession.
Canberra’s house prices have fallen across the 2022 June quarter, but rising interest rates and inflation continue to impact affordability, according to the latest REIA Real Estate Market Facts.
The head of the Reserve Bank of Australia has flagged more rate rises in coming months. However, RBA Governor Philip Lowe said the case for a slower pace of tightening was becoming stronger as the cash rate level rises.
Many Australians will struggle to make ends meet in an economic environment of rising interest rates and when their wages are failing to keep pace with rampant inflation.
The prime minister has moved to freeze the deeming rate for almost 900,000 social security recipients in the wake of the central bank raising interest rates for the first time in more than a decade.
