Big spending Aussies dent hopes of interest rate reprieve
Just as the Reserve Bank Governor Philip Lowe suggested a pause in interest rate rises was on the cards, big spending Aussie households may have given him cause for a rethink.
While some households are weighed down by interest rate burdens others are spending up big on holidays. (Image source: Shutterstock.com)
The Reserve Bank of Australia (RBA) has made it clear more interest rates rises are in the pipeline but a rethink may have been precipitated by data showing household spending skyrocketing.
Household spending rose 17.8 per cent in January compared to the same time last year, according to figures released Tuesday (14 March) by the Australian Bureau of Statistics (ABS).
Robert Ewing, ABS Head of Business Indicators, said: “Household spending rema…
