With inflation stubbornly high at just under eight per cent, it is unlikely the RBA will break from its trend of raising the cash rate. 9News
as the Reserve Bank of Australia board prepares to meet for the first time this year.
Most economists are predicting an 0.25 per cent increase this afternoon but some believe it could rise by as much as 0.5 per cent, which would bring the cash rate to 3.6 per cent. With inflation stubbornly high at just under eight per cent, it is unlikely the RBA will break from its trend of raising the cash rate.If the RBA lists rates by 0.25 per cent, a household with a mortgage of $750,000 will have to find an extra $1400 every year.
After eight-straight hikes, one in five homeowners now admit they have borrowed too heavily on their mortgages, a
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