Finance News
It would be an understatement to say that the Australian sharemarket has tumbled this week with the latest risk being fears of a US or global recession. And it all comes on the back of rising inflation and to curb it, all global central banks are lifting interest rates with the UK and Switzerland are the latest…
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I hate to say I told you so. Last week I suggested you should brace yourself for a 0.5% interest rate increase, and unfortunately, I was right. For many mortgage holders the days of cheap money are well and truly over, and now we could see families and singles – particularly first home…
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Brace yourself for a shock when the Reserve Bank meets next Tuesday. Here’s why: The GDP number announced yesterday was 0.8%, far higher than economists predicted for the March quarter. That, coupled with the soaring cost of living thanks to Vlad The Impaler’s war in Ukraine driving energy and food prices up, and…
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The other night in the US, minutes from the May 3-4 meeting of the Federal Open Market Committee (FOMC) revealed members saw the need to raise rates faster than the market expected, in order to dampen inflation. The meeting resulted in a 50-basis-point rate hike, which was the biggest jump in 22 years. The FOMC said further such rate hikes…
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You now have just a few days to vote, and as expected both major parties have pulled a few rabbits out of their hats. But it’s quite staggering that even after all the restrictions and lockdowns, the pollies still haven’t worked out that we don’t like being told what to do. In the COVID…
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Unless you’ve been living under a rock this week, you will have heard that the RBA has lifted interest rates for the first time in a decade. Our official rate is now 0.35%. Similarly, the US Fed lifted rates to 0.75%-1% and the Bank of England lifted their benchmark to 1%. Higher cash rates…
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We’ve all heard about it, and now we’re all feeling it. Inflation is real, it’s sending our cost of living through the roof, and there’s no relief in sight. After two years of governments throwing money at us throughout the pandemic, we’re now left with no choice but to stand on our own two feet…
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There’s been a lot of talk as we’ve emerged from the pandemic that official interest rates are set to head upwards for the first time in a very long time, and for me, yesterday’s RBA meeting solidified that further. As I’ve said before, I expect there’ll be an increase to official interest rates in…
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