The “Lowe blows” keep on coming as the RBA’s increases continue
As expected yesterday the head of the Reserve Bank Phillip Lowe gave us another "Lowe Blow", by increasing interest rates by another 0.25%. The official cash rate now sits at 3.35% and despite hopes that the RBA might let interest rates sit steady for a while, it looks like there are more increases to come in the next few months.
Fortunately there's a simple way to budget for the increases: earn more, or spend less. Unfortunately we all know it's not that simple.
I am expecting the "Lowe blows" will keep coming, with rates to go up again in March by another 0.25% putting more pressure on mortgage holders. Have a listen to my Money News chat with Canstar’s Steve Mickenbecker on why the last year of rate hikes has been like paying for all your other household bills twice over.
In other news, Monday this week was officially the first day of reporting season, a time where publicly listed companies report their half-year results. It's our twice-yearly look under the hood of corporate Australia, and this season is going to be very interesting especially as companies deal with higher interest rates and changes in the way consumers are spending. Have a listen for an insight into the start of the season with Adam Dawes.
I am back in the Money News host chair from 7pm each night Monday to Thursday right across the Nine Radio network, so tune in or grab the podcast whenever suits you!
On a different note, we were interviewed by the Surf Coast Times last week about the success Divorce Planning has had in assisting couples to separate without involving lawyers, therefore keeping costs down and separations amicable.
If you or someone you know is going through the stress of separation or divorce, the Divorce Planning team is available to help. Call for a free 15-minute consultation on 1300-1234-36.