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The RBA doesn't think it will raise rates again, but it doesn't want you to know
Michele Bullock says it's important Australians believe the RBA will hike rates if it needs to. (AAP: Dan Himbrechts)
Every second meeting, the Reserve Bank's boffins produce a set of economic forecasts that guides the board's thinking for the next three months.
The latest set of forecasts is good news for mortgage borrowers fearing further rate hikes.
Inflation was dramatically lower than the RBA expected just three months ago in May, even though oil prices behaved much as expected.
What's more, the bank continues to expect inflation to fall to the mid-point of its 2-3 per cent target range by the end of 2027, even though rates are tipped to be lower.
RBA misreads hidden crisis as homeowners left with bad credit for common home act
Australia’s Reserve Bank could be playing a game of financial Russian roulette with homeowners, relying on a statistical blind spot that could trigger another crippling interest rate blow.
The RBA announced at its latest board meeting Tuesday that interest rates would be kept on hold, but noted that future rate rises remained a possibility.
“The Board will continue to do what it considers necessary to bring inflation sustainably back to target, including increasing the cash rate target further if upside risks materialise,” The RBA said.
But mortgage brokers have criticised the prospect of further rate hikes, arguing the RBA had a flawed understanding of just how far it could push homeowners.
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