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|Struggling with Mortgage Payments? You are Not Alone: 1.2 Million Aussie Households Affected|
30 Jan 2023: .financialservicesonline.com.au
The impact of rising mortgage rates on Australian households is a growing concern, according to Roy Morgan Research. The research firm has conducted a study that models the effects of the current 3.1% increase in the Official Cash Rate (OCR) and the possibility of two more 0.25% rate hikes in February and March. - read more
|Rising Inflation Pushes RBA to Consider Interest Rate Hikes in February|
27 Jan 2023: .financialservicesonline.com.au
The Australian economy is facing a likely increase in interest rates in February, as inflation hits its highest rate in 33 years. The latest Consumer Price Index figures show that inflation reached 7.8% in 2022, with a 1.9% increase in the December quarter alone. This increase in inflation is largely attributed to a post-pandemic spend-a-thon, with domestic holiday travel and accommodation rising 13.3% and international holiday travel and accommodation rising 7.6%. Additionally, rents increased by 4% and power bills by 8.6%. - read more
|Interest rates up another 50 basis points with more hikes to come|
03 Aug 2022: .
As was expected, the Reserve Bank of Australia (RBA) raised interest rates by another 50 basis points this month. The fourth rate hike in as many months, today’s decision takes the cash rate from an emergency low of 0.1% to 1.85%. - read more
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