Peter Dutton warns US recession is inevitable

Opposition leader Peter Dutton has stated that the US will enter a recession, and “this prime minister knows what is coming”. The big call comes as treasurer Jim Chalmers prepares to transfer his first budget next month, which he says will be a “bread and butter” effort to curb inflation. The opposition is warning him … Read more

US Federal Reserve Decision Could Cause a Recession: Motley Fool, Stephen Jones

Australians are being told they are “preparing” for further financial pain, including a potential recession, after the US Federal Reserve raised interest rates to the highest levels since the global financial crisis. The central bank raised the country’s cash interest rate by three-quarters of a percentage point to 3.25 percent, and said further rate hikes … Read more

Interest rates: decline in household consumption is a sign that RBA will cut spot interest rates in 2023

This aggressive tightening has already increased the average variable mortgage rate in Australia by two-thirds, from 3.45 percent in April just before the first rate hike to 5.70 percent today. This is the highest variable mortgage rate since January 2013 and comes at a time when Australian mortgage holders are more indebted than ever. According … Read more

Interest Rates: Potential Home Buyers Caught With Pre-Approvals

Some potential homebuyers with pre-financial clearance are caught out by rising interest rates after learning that their borrowing capacity may have changed. Preliminary loan agreements are quickly becoming obsolete and many people are not able to borrow as much as they initially thought. ICU Finance Group director Arlton D’Souza told NCA NewsWire that getting pre-approval … Read more

RBA Interest Rate Decision: The Couple’s $500 A Month Rise in Sydney

When Danial Khan and his wife Noor bought their first home 18 months ago, it was a no-brainer. The young couple, who bought in Glenhaven in Sydney’s Hills District, have long dreamed of the freedom and lifestyle promised by homeownership, and secured a 100 percent variable rate from banking giant ANZ. But after five consecutive … Read more

Inflation explained: how livelihood pressures could worsen in Australia in 2022?

Over the past 12 months, Australians have received quite a bit of education about inflation, with the headline CPI recently hitting 6.1 percent. After more than a decade of largely dormant inflation in relative terms, recent cost-of-living pressures have blinded households and even the experts at places like the Reserve Bank (RBA). As inflationary pressures … Read more

Interest Rates: RBA raises spot interest rate by 50 basis points to 1.85 percent

For the fourth month in a row, the Reserve Bank of Australia (RBA) has raised interest rates as inflation is rampant. At 2:30 p.m. at the RBA’s monthly meeting, it raised Australian interest rates by 50 basis points, or 0.5 percent. The decision brought the cash rate of 1.35 percent to 1.85 percent, largely in … Read more

Mark Bouris Reveals Five Tips for Safeguarding Money While Inflation Rises

Inflation is very likely to hit 7 percent by the end of 2022, meaning there’s more than a reasonable chance that further rate hikes will be passed on to you, the borrower, before the end of the year, as the RBA cuts spending in to keep inflation in check. This is not good news, but … Read more

Bank warns too many RBA rate hikes could ‘crash’ Australian housing market

As Aussies brace themselves to be plagued by multiple rate hikes, an expert has warned that the hikes could have a chilling impact on the real estate market. There are warnings that the Australian housing market could ‘crash’ if interest rates rise too high after the huge surges over the past two months. The Reserve … Read more

Interest Rates: CBA Claims Falling Home Prices Could Stop RBA Rises

Australia’s largest bank has revealed a key factor that could halt the RBA and end brutal rate hikes. House prices are already plunging across the country – and Australia’s largest bank claims it could cause major problems for the RBA “behind closed doors”. Last month, the Commonwealth Bank announced that house prices in Australia’s two … Read more