Australia’s central bank expected to hit mortgage holders again on Tuesday, as war in Middle East combines with collapsing house pricesGet our breaking news email, free app or daily news podcastAustralia’s economy is set for a “sharper, longer slowdown”, major bank economists say, as the Reserve Bank is forced to keep interest rates higher to rid the nation of persistent inflationary pressures.The RBA is widely expected to hit mortgage holders with a fifth rate hike on Tuesday, in a move that will push the cash rate to its highest since 2008 amid rising worries the economy could even be tipped into recession. Continue reading...
‘Sharper, longer slowdown’ predicted for economy as fifth interest rate hike looms
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The Guardian - UK BusinessBy Patrick Commins Economics editor
EXECUTIVE SUMMARY
Australia’s central bank expected to hit mortgage holders again on Tuesday, as war in Middle East combines with collapsing house prices Get our breaking news email, free app or daily news podcast Australia’s economy is set for a “sharper, longer slowdown”, major bank economists say, as the Reserve Bank is forced to keep interest rates higher to rid the nation of persistent inflationary pressures. The RBA is widely expected to hit mortgage holders with a fifth rate hike on Tuesday, in a move that
Key Takeaways
- ‘Sharper, longer slowdown’ predicted for economy as fifth interest rate hike looms.
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Published originally on The Guardian - UK Business
