* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, June 23, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Crypto’s true revolution is about humanity, not technology – Cointelegraph

    Crypto’s Real Revolution: Transforming Humanity Beyond Technology

    $1 Billion Problem: New Technology Could Save Your Daily Cup of Coffee – SciTechDaily

    The $1 Billion Challenge: How New Technology Could Rescue Your Daily Cup of Coffee

    Canada’s construction industry gets serious about investing in technology as pressure mounts to do more with less – Yahoo Finance

    Canada’s Construction Industry Accelerates Tech Investments to Overcome Growing Challenges and Boost Efficiency

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    Safety concerns in Deep Ellum create apprehension as the entertainment district gains visitors – CBS News

    Safety Concerns Surge Amid Deep Ellum’s Booming Popularity and Growing Crowds

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

    Elisabeth Moss’ ‘Handmaid’s Tale’ Emmy chances, by the numbers – Yahoo

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Technology Convergence Report 2025 – The World Economic Forum

    Technology Convergence Report 2025 – The World Economic Forum

    How AI can help make cities work better for residents – MIT Technology Review

    How AI can help make cities work better for residents – MIT Technology Review

    Tech Champions with Leo Bletnitsky of Healthy Technology Solutions – Buzz Media Group

    Meet Tech Champion Leo Bletnitsky of Healthy Technology Solutions

    Crypto’s true revolution is about humanity, not technology – Cointelegraph

    Crypto’s Real Revolution: Transforming Humanity Beyond Technology

    $1 Billion Problem: New Technology Could Save Your Daily Cup of Coffee – SciTechDaily

    The $1 Billion Challenge: How New Technology Could Rescue Your Daily Cup of Coffee

    Canada’s construction industry gets serious about investing in technology as pressure mounts to do more with less – Yahoo Finance

    Canada’s Construction Industry Accelerates Tech Investments to Overcome Growing Challenges and Boost Efficiency

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Experts split on RBA cash rate hike in July

July 3, 2023
in Business
Experts split on RBA cash rate hike in July
Share on FacebookShare on Twitter

As the Reserve Bank of Australia (RBA) contemplates its next move, experts in the country remain divided over whether the cash rate will be raised on July 4. 

In the latest Finder RBA Cash Rate Survey, 39 economists and experts provided their insights, revealing a near-even split on the potential rate adjustment. With 51 per cent of the panelists predicting an increase and 49 per cent forecasting a hold, uncertainty looms over the RBA’s decision-making.

The mounting pressure on homeowners becomes evident as Finder’s Consumer Sentiment Tracker exposes a concerning trend. A staggering 41 per cent of Australian mortgage holders, equivalent to approximately 1.35 million households, admitted to struggling with their home loan payments in June. This distressing figure marks the highest proportion since tracking began in 2019, underscoring the potential vulnerability of the housing market.

Amidst this financial strain, experts warn of a potential wave of distressed home sales if the cash rate rises further. In a survey conducted by Finder, 67 per cent of respondents believe that an additional cash rate hike in the second half of the year will force more homeowners to sell their properties due to mortgage servicing difficulties. The fear is substantiated by data from the Australian Prudential Regulation Authority, which indicates that mortgage defaults reached a staggering $15 billion worth of home loans in March 2023.

With the panel’s average forecast projecting a cash rate of 4.80 per cent, surpassing the previous peak of $20 billion in mortgage defaults seen in June 2020, the situation appears increasingly precarious. Graham Cooke, head of consumer research at Finder, voiced concern for millions of homeowners on the brink of financial collapse, emphasizing that a cash rate of 4.80 per cent would likely trigger a deluge of distressed property sales.

Beyond the immediate challenges facing homeowners, experts also express apprehension about Australia’s economic outlook. The ongoing debate surrounding the cash rate reflects broader concerns about the nation’s potential slide into a recession. More than half of the surveyed experts (57 per cent) believe that by the end of 2023, Australia risks entering a recession. Factors such as dwindling household savings, which plummeted to 3.7 per cent of net disposable income in the March quarter of 2023—its lowest level since June 2008—contribute to this mounting anxiety.

While the average Australian currently holds $31,075 in cash savings, more than half (51 per cent) admit they could only survive for a month or less if faced with job loss. Additionally, a quarter of respondents (24 per cent) express even greater financial fragility, stating they could only rely on their savings for a week or less. This disparity between those with substantial financial cushions and those without underlines the growing divide in financial security.

Amidst rising interest rates and falling real wages, experts argue that Australians are rapidly depleting their savings buffers. Shane Oliver from AMP suggests that the decline in the savings rate demonstrates a worrying erosion of financial resilience, driven by the compounding effects of rate hikes and stagnant wage growth. Dale Gillham from Wealth Within echoes this concern, noting that many Australians are living paycheck to paycheck, leaving them vulnerable to financial turmoil in the absence of a steady income stream.

Dr Peng Yew Wong, Senior Lecturer, School of Property, Construction and Project Management said: “We might have been paying too much attention to RBA’s cash rate decisions and forgetting about other key players in the current crisis: The Federal and state government. 

“The latest cash rate hike did not come as a surprise in lieu of the latest inflation rate of 6.8 per cent – which was higher than the market expectation of 6.3 per cent. But it did not result in the housing market retreat as expected.  

“Reversing a downtrend since the beginning of the RBA cash rate hike, national home values rose by 1 per cent.  

“This marks the first quarterly lift in home values since May 2022 and is expected to continue to be resilient in the remainder of 2023 and into 2024. 

“This might be attributed to the shortage in housing supply. 

“Inadequate supply means that the housing quantity is not enough to satisfy the market demand, thus rising housing and rental market stress. “As a result, consumers need to adjust to more expensive housing.  

“The Federal and state governments’ responsibilities and actions have a great impact on the cash rate hike. 

“The housing market supply is directly related to the nation’s fiscal policy implementations, but governments’ haven’t done enough to address the shortage. 

“No wonder the RBA’s governor expressed dismay at the lack of action by policymakers. Housing is only one of the many components in CPI computation and inflation. 

“Over the last few months, along with housing, the most significant price rises were gas and household fuels (+14.3 per cent), medical and hospital services (+4.2 per cent), tertiary education (+9.7 per cent) and domestic holiday travel and accommodation (+4.7 per cent).  

“Energy costs will soon be added to the rise, posing the question: Is the government going to do anything to ease this most fundamental “cost of everything”?” 

As Australia teeters on the precipice of economic uncertainty, the RBA’s decision on the cash rate in July carries significant weight. The divided expert opinions and the potential consequences of distressed home sales and recession loom large, demanding careful consideration from policymakers tasked with navigating these challenging times.

Keep up to date with our stories on LinkedIn, Twitter, Facebook and Instagram.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Dynamic Business – https://dynamicbusiness.com/topics/news/experts-split-on-rba-cash-rate-hike-in-july.html

Tags: businessExpertssplit
Previous Post

Hours worked drop as minimum wage rises

Next Post

B2B marketplace Upstock launches in Australia

Senior Thesis Spotlight: Considering facets of human psychology from a data science point of view – Princeton University

Exploring Human Psychology Through the Lens of Data Science: A Senior Thesis Spotlight

June 23, 2025
Medieval gold ring found in castle in Slovakia has rare purple sapphire imported from Sri Lanka – Live Science

Stunning Rare Purple Sapphire Unearthed in Medieval Gold Ring at Slovakian Castle

June 23, 2025
Wisconsin man’s fraud scheme funded lavish lifestyle and over 300 snowmobiles, federal charges say – WPR

Wisconsin man’s fraud scheme funded lavish lifestyle and over 300 snowmobiles, federal charges say – WPR

June 23, 2025
2025 College World Series: Scores, bracket, complete results as LSU wins eighth national title in baseball – CBS Sports

LSU Secures Epic Eighth National Baseball Championship in 2025 College World Series Thriller

June 23, 2025
Top economist who previously sounded the alarm on tariffs sees a possible scenario where Trump ‘outsmarted all of us’ – Fortune

Top Economist Raises Alarming Question: Did Trump Outsmart Everyone on Tariffs?

June 23, 2025
Universal Health Services, Inc.’s (NYSE:UHS) Intrinsic Value Is Potentially 34% Above Its Share Price – Yahoo Finance

Universal Health Services’ True Value Could Be 34% Higher Than Its Current Share Price

June 22, 2025
Millennials taking control in Prince George’s County politics – WTOP

Millennials taking control in Prince George’s County politics – WTOP

June 22, 2025
Technology Convergence Report 2025 – The World Economic Forum

Technology Convergence Report 2025 – The World Economic Forum

June 22, 2025
Kingsley Coman reveals desire to stay at Bayern Munich – Yahoo Sports

Kingsley Coman reveals desire to stay at Bayern Munich – Yahoo Sports

June 22, 2025
What role will Pope Leo XIV play in the future of Laudato Si’ ecological action? – National Catholic Reporter

What role will Pope Leo XIV play in the future of Laudato Si’ ecological action? – National Catholic Reporter

June 22, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (697)
  • Economy (712)
  • Entertainment (21,611)
  • General (15,518)
  • Health (9,753)
  • Lifestyle (717)
  • News (22,149)
  • People (715)
  • Politics (719)
  • Science (15,931)
  • Sports (21,208)
  • Technology (15,697)
  • World (692)

Recent News

Senior Thesis Spotlight: Considering facets of human psychology from a data science point of view – Princeton University

Exploring Human Psychology Through the Lens of Data Science: A Senior Thesis Spotlight

June 23, 2025
Medieval gold ring found in castle in Slovakia has rare purple sapphire imported from Sri Lanka – Live Science

Stunning Rare Purple Sapphire Unearthed in Medieval Gold Ring at Slovakian Castle

June 23, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version