As analysts expected, the Reserve Bank has left interest rates at 0.1%, but has upgraded its inflation forecast. Last year, our central bank said it didn’t expect rates would go up until 2024 given the massive shock of the pandemic and the need to encourage spending and investment to get Australia’s economic wheels degunked. But resilience seems to be our fiscal middle name, and last week’s higher-than-expected inflation update prompted forecasters to predict a rate hike this year. The RBA says it’s keeping an eye out but wants to see the wages growth that usually accompanies inflation. Yesterday, PM Scott Morrison acknowledged that cost of living concerns will be a top-order election issue. And these themes aren’t lost on homebuyers either with the latest CoreLogic data revealing Melbourne’s median home price surpassed $1 million in January, joining Sydney and Canberra. Overall, the analysts say the long-term outlook is that growth is “softening”, so that’s something for those looking for a step onto the property ladder…