Inflation, spending continue to fuel interest rate pressure
No matter how painful they may be, interest rates appear likely to keep rising as long as the RBA has to wrestle with higher consumer spending and inflation.
With inflation again above 7 per cent, RBA Governor Philip Lowe may have little choice but to raise interest rates again. (Image source: Shutterstock.com)
There’s no longer a monthly Reserve Bank of Australia meeting goes by that doesn’t stress that the dire need to curtail inflation through higher interest rates.
Nor is there any shortage of real estate professionals or stressed mortgagees responding that enough is enough and the rates rises have taken effect and must stop.
But regardless of the pain felt by homeowners trying to meet mortgage repayments, recent buyers staring into the abyss of n…
