Interest rates and recession: What to know before tomorrow’s RBA decision | The Hormuz hike: why …

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Interest rates and recession: What to know before tomorrow's RBA decision

Hi, I'm business journalist Emily Stewart. I'm here to help you understand how key moments in the economy can affect you.

This week, people with mortgages around Australia will be waiting to see whether or not the Reserve Bank of Australia (RBA) raises interest rates. 🏠 I'll walk you through the factors that can contribute to the decision to change the interest rate and answer your questions. 🤔

If you have a question for me, please reach out. Thanks to everyone who sent questions earlier in the week. I have some answers below.

What: The Reserve Bank of Australia (RBA) board is meeting this week to discuss whether or not to change the cash rate. It is currently sitting at 4.1 per cent.

The Hormuz hike: why the RBA is predicted to deliver a third straight interest rate rise this week

While interest rate rises can’t affect the surging price of oil caused by Middle East turmoil, they are still the Reserve Bank’s best – and only – tool to fight inflation

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There’s a nearly 80% chance that the Reserve Bank will deliver a third straight interest rate rise on Tuesday, according to financial markets.

Higher interest rates are always unwelcome for the roughly 3.6m households paying down a mortgage. But a rate rise this week would be particularly galling.

Slammed with higher petrol prices and the broader cost-of-living grind, more than one homeowner will be wondering how paying more interest on their loans will do anything to fix the root cause of the latest inflationary pulse: the Middle East conflict.

The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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