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Australian banks
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- 1RBA set to raise interest rates again on Tuesday●A rate rise tomorrow is all but locked in. How many more might there be? By Michael Janda and Alison Branley The Reserve
The Reserve Bank of Australia meets for the sixth time this year, with economists and financial markets broadly expecting another interest rate rise. The key question now is how many further increases could follow as the bank works to bring inflation down. Borrowers are watching closely, with each rise adding pressure to mortgages and household budgets across Australia.
- 2RBA widely expected to lift rates 25 basis points in September▼RBA preview September: 25 bps widely expected as inflation risks grow
Markets and analysts widely expect the Reserve Bank of Australia to raise interest rates by 25 basis points at its September meeting, according to a Yahoo Finance Australia preview. Attention is focused on growing inflation risks, with the outcome seen as a key signal for Australian borrowers, mortgages and the broader economy.
- 3First home buyers face steep cut to borrowing capacity▼first home buyer borrowing capacity reduction
Australian first home buyers are seeing their borrowing capacity shrink sharply as expectations of another Reserve Bank interest rate rise build. Reports across major outlets say a hike could wipe tens of thousands of dollars off what buyers can borrow — estimates range from $47,000 to $58,000 in reduced buying power, with mortgages facing roughly $5,000 a year in extra repayments. Commentators note the pressure reverses recent house price relief, though some see a silver lining in falling prices for locked-out buyers.