Outgoing Reserve Bank of Australia governor Philip Lowe is tipped to announce a third consecutive pause on interest rates following his final board meeting today.
It comes as new research from Finder showed one in seven homeowners feared they might be forced to sell due to rising costs.
However, with spending and inflation growth slowing, it's believed the RBA will keep the cash rate at 4.1 per cent.
READ MORE: Smash Mouth singer Steve Harwell dead at 56
Last week the Australian Bureau of Statistics revealed inflation was at its lowest level since early last year.
On August 30 the ABS said the consumer price index (CPI) rose by 4.9 per cent over the last year – the lowest the measure has been at since the same figure was recorded in February 2022.
"This month's annual increase of 4.9 per cent is down from 5.4 per cent in June," ABS head of prices statistics Michelle Marquardt said.
"Annual price rises continue to ease from the peak of 8.4 per cent in December 2022."
READ MORE: Artist takes on major supermarkets with grocery store graffiti
And recent research shows the property market continues to recover.
CoreLogic's Home Value Index (HVI) rose by 0.8 per cent in August, a sixth-straight monthly increase, the property research company said.
Data for the amalgamated capital cities showed house prices 6.3 per cent higher than in February. Unit values have increased by 4.9 per cent.
Source link
