Interest rates could be hiked up from as early as June this year, the head economist at Australia’s largest bank has forecast.Head of Australian Economics at the Commonwealth Bank Gareth Aird yesterday revised his prediction for when the Reserve Bank of Australia (RBA) will lift rates from their current historic low level of 0.1 per cent.Following larger …
Early interest rate hike looms large after shock inflation data Read More »
Surging petrol prices, grocery bills and housing costs have economists warning inflation is rising faster than expected and putting pressure on the Reserve Bank to lift interest rates as soon as August. Economists are widely expecting a significant jump in inflation for the final three months of 2021, with the Australian Bureau of Statistics set …
Economists tip August interest rate hike as the cost of living rises Read More »
Paying off your mortgage is getting more expensive, with Westpac becoming the latest of 17 banks to hike their fixed rates this year. Westpac, including subsidiaries St George, Bank of Melbourne and BankSA, raised interest rates for owner-occupiers and investors by up to 0.2 percentage points on Friday. The changes will add hundreds of dollars …
Home owners hit with rate hikes as bank funding costs rise Read More »
With each new year comes an opportunity to start afresh with savings goals, particularly for those in the market to buy a property. Financial advisor Nick Lucey of Nest Advisory Group and buyer’s agent Lloyd Edge of Aus Property Professionals share the small changes that can make a big difference to your savings goals in …
Financial New Year’s resolutions to help home buyers achieve their savings goals in 2022 Read More »
The Reserve Bank of Australia has been quite clear that interest rates in Australia will not budge until unemployment, wages and inflation are all exactly where it wants them to be. This, RBA governor Philip Lowe said, was expected to happen in 2023. However, central banks around the world have been feeling the pressure of rising …
Forced to move’: Will interest rates rise in 2022? Read More »
For the first time in many years, central bankers and global investors are witnessing a material pick-up in inflation. Despite the evidence, which shows inflation lifting to levels well above target, the reaction of central bankers and investors has so far been muted. Some central banks have started to hike interest rates in reaction to the …
It may seem strange that Australia’s household wealth has skyrocketed during the same period that featured our first recession in three decades and a once-in-a-hundred-year pandemic. But that’s exactly what’s happened; and housing is a big part of why. This rapid rise in wealth is good news and has certainly helped mitigate the overall economic …
Australian wealth surges during COVID, but leaves a generation behind Read More »
The banking regulator has announced tougher serviceability tests for home loans, which will make it harder for some borrowers to get a mortgage, on the same day the Reserve Bank of New Zealand starts lifting its benchmark interest rate. In a letter to banks today, the Australian Prudential Regulation Authority (APRA) has increased the minimum interest rate …
Financial planners are just for the rich, right? Well no, actually, a financial planner can help if you’re struggling with your budget, are keen to start investing but don’t know where to start, or you want help preparing financially for retirement. The term financial planner is used interchangeably in Australia with financial adviser and each …
Thinking about getting a financial planner? This is how much they cost Read More »
The Reserve Bank of Australia has again resisted changing the cash rate, keeping it at 0.1% for another month. The central bank continues to hold its nerve on the price of money, despite many within the industry raising their rates, causing borrowers to pivot towards fixed rate loans. Australian Broker reported last week that fixed …
Cash rate holds again as borrower seek to lock in fixed interest rates Read More »
