Economists are warning that Australians are “at the mercy” of the Reserve Bank in 2023 if it continues to hike rates.
The Central Bank has so far thrust eight consecutive rate rises on to households after sitting at a historic low of 0.1 per cent in April 2022.
Stream Sky News live & on demand with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free. Offer ends 31 October, 2023 “The combination of falling house prices, rising interest rates, high inflation, low levels of consumer confidence and negative real wage growth are expected to combine to see spending growth decelerate markedly over coming months,” he said.
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