/ 07 June 2022

Getting ready for another rate rise

Image source: Getty
Image source: Getty

The Reserve Bank board meets today to make its monthly decision on interest rates, and economists are tipping a 0.25-0.4% rise. That would see them head upwards to at least 0.6%. Governor Philip Lowe signalled further hikes last month when official rates went from 0.1% to 0.35%, but many experts say strap yourself in thanks to growing inflation worries. As cost of living pressures ramp up, calls for wage increases are growing. Yesterday, NSW Premier Dominic Perrottet announced that the public sector wage cap will be lifted to 3%, and healthcare workers will receive a $3,000 bonus for their work during the pandemic. NSW and Victoria are facing state elections in the coming 9 months, so expect more where that came from…

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