Australians have likely just spent their way to a 50 basis point increase in interest rates this month, having gone on a mad splurge at the end of financial year sales in June, writes EKnightOfficial
Australians have likely just spent their way to a 50 basis point increase in interest rates this month, having gone on a mad splurge at the end of financial year sales in June.push rates up by half a percentage pointWhile almost all economists are in unison on the prediction that the Reserve Bank will raise rates from 0.85 per cent to 1.35 per cent, ANZ is calling it a “done deal”.Kate Geraghty
Lowe’s clear message to the market was that “no rate rise” wasn’t on the table and neither was a more nuclear option of a 75 basis point rise. The labour market is an important input. And ANZ’s job advertisement data provides even more fodder for the RBA to keep up the pressure on interest rates. A rise of 1.4 per cent month on month surpasses the March peak and confirms we remain in a particularly tight job market.
It is possible that June was the last gasp of strong consumer spending before wallets are closed. This is certainly something the RBA will be watching carefully.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The worst stock selloff in half a century might not be done yetAfter just about everyone on Wall Street got their 2022 predictions wrong, investors are now focused on a toxic mix that spells stagflation.
Read more »
The worst stock selloff in half a century might not be done yetAfter just about everyone on Wall Street got their 2022 predictions wrong, investors are now focused on a toxic mix that spells stagflation.
Read more »
Far from being done with COVID, UK records 2.3m cases in a weekBritain’s COVID-19 infections are rising sharply with Omicron subvariants sparking new outbreaks across the country
Read more »
So the arguments over Brexit are done and dusted for a generation. Really, Tony Blair? | Will HuttonWe desperately need to rejoin the single market and customs union, whatever the former PM thinks
Read more »
So the arguments over Brexit are done and dusted for a generation. Really, Tony Blair? | Will HuttonWe desperately need to rejoin the single market and customs union, whatever the former PM thinks
Read more »
Australians share how they're saving money by tweaking their lifestylesThe rising cost of living has forced Australians like Zofia to make difficult decisions in their lives, but many have also found practical ways to save.
Read more »