Financial relief could be on the horizon for Aussies under mortgage stress, as finance guru Mark Bouris reveals his predictions for interest rate reductions.
opting to keep the crash rate on hold at 4.10 per cent.
Speaking about the latest RBA decision on Sunrise on Friday, Mr Bouris shared when he believes interest rates will go down. "Whether or not we will have cuts will depend completely on how severe the impact of these interest rates increases have been. Yellow Brick Road chairman Mark Bouris also questioned how long Australia could sustain the current interest rate trends without going into a recession. Picture: Hollie Adams/The Australian
"The Bank of England last night increased their interest rate because services inflation is getting ahead of us," Mr Bouris said."So, I think we're still in a watch period, just a pause." "Also, demand continues to exceed supply in some parts of the economy, and labour market conditions are still tight, which is conducive to above-average increases in prices and wages."Recent figures from the Australian Bureau of Statistics also reveal inflation slowed in the June quarter.
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