‘Not good news’: Interest rates predicted to reach as high as five per cent in 2024
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- Опубліковано 27 кві 2024
- Interest rates could reach as high as five per cent by the end of the year.
It’s believed sticky inflation will force the RBA to lift the cash rate in August, September and November, according to Judo Bank Chief Economic Advisor Warren Hogan.
“The RBA was hoping we wouldn’t get to this point,” Mr Hogan said.
“And look, there is still a chance they may not have to raise rates.
“The economy is showing some sort of signs of recovery this year and that’s not good news.
“We need the economy to remain soft because it has to be soft to get that inflation all the way down.”
Had a gut full of the WEF AGENDA? vote ONE NATION 🇦🇺 PROBLEM SOLVED 👍
Own nothing..be happy..eat bugs..Get.F'd..Vote One Nation
Fish and chips and racist agenda for everyone
Well Keating had them at 17% so enjoy what you voted for
Yeah but houses didn't cost 1.65 million at that time.
@@morganoox3838wages were much lower than today
Rising interest rates are always a consequence of Labour govts; all they know is money printing, higher taxes ( contrary to what they say), increased regulation, and increased govt debt. The only way from here is up!
@@user-xo4rx8ov5o : No, wages were actually higher in comparison with the cost of living.
@@user-xo4rx8ov5o yes. Vs wages, factoring inflation, homes are 4 x more expensive then they were. The cost of living is much higher now as well.
Things are worse now then during the great depression.
Australia is the most regulated country on the planet, it's unbearable place to live now...
You obviously haven't lived in Europe or the US; maybe move to India or China..
If only we could build houses and apartments they don't fall apart....
Albo doing a fantastic job for the wef
The rates were always going to rise, simply because they were artificially low for too long
Albanese has done everything possible to increase inflation since they came to power.
Well Fiat currency and a debt based system allows for central banks RBA for example to print trillions from thin air and lend funds to people that they don’t actually have. I mean think about you go into your bank for a mortgage loan you give over your 10% deposit THEN this is the best part the bank lends you the rest e.g. $700k they type the numbers into their computer and BOOM from thin air on you mobile app your 700k digits just appear from thin air. ITS A FKKKN SCAM!!!! I don’t understand why anyone does this shit anymore. 🤡🌍
Inflation was at 6.1% at the end of Morrison.
Now at 3.6% after two years of Albanese.
Albanese didn't have a Pandemic to navigate through while managing the economy!!
@@dominictucci6030 Job Seeker and Job Seeker payments were mismanaged.
Millions of dollars were paid to companies and individuals who did not require it.
The Billions of dollars pushed back into the economy has led in part to the high inflation towards the end of Covid.
You probably have a better memory though of the School Hall and Ceiling bats stimulus Labour invested which saved Australia from going into recession during the GFC.
Interest rates dropped far too low and house prices exploded. Ideally rates should stay between 4 and 5.5 percent. The reserve bank stuffed up ( no rate rise till 2024) now borrowers are facing reality.
CGT discount started the investor boom in 2000; that discount needs to go as well.
@@petesmittbut land tax triples
@@teatree6228
CGT is federal tax, land tax is state.
Rents are already up 40%. Cant wait for them to put them.up another 10% because of this (and mega immigration). Looking forward to seeing the entire working population homeless...
may be at last someone starts to work, not only go to office or brew coffee. 80% of population does nothing, only consumes, not creates value.
Yeah and when/if cuts happen don't expect the rent to go down either. Smh.
Well the only way we will own nothing and be happy (NOT) is for personal wealth to be destroyed amongst the middle class. Interest rates, combined with Labor's utter incompetence at managing the economy, is the way this will eventuate.
Remember “transitory” inflation?
Big boost to house hold incomes? Bull Shit mate. Power companies, Telstra and insurance companies have already taken more than the tax cut before we can put food on the table OR fuel in the car.
So the " expert" comes on to plant the seed, then next RBA meeting up go the rates.
How predictable.🙄
Leak it, deny it, do it. Age old formula.
The banks have been consistently pushing the narrative of a rate cut coming. Trying to give struggling families hope so they don't all crash and burn at once...
I guarantee you if interest rates go up another 3 times by the end of the year, it will be passed onto renters.
Then Labor & Green will blame investors
@@Chive-do2ii well of course they will. It has nothing to do with the fact they have let 500,000+ immigrants in and only built 100,000 houses. Supply vs demand….
"Supply and demand" dictate rental prices NOT interest rates. If rates go too high, landlords exit the market.
@@buildmotosykletist1987 if I have a mortgage on an investment property and my repayments go up due to interest rates, I will charge more for rent. 13 interest rate increases with more to come. It will be passed on.
Rate rises plus astronomical increase in land taxes in victoria plus covid land taxes plus victorian safety audits to grease the tradies
6 percent soon .. just my opinion
Higher rates let's go 🚀🚀🚀
more
10% and I'll be laughing.
16% in due course.
The High Interest rate is just another tax collected by the Banks ...
If the rates drop, the house price will rise, and the tax will now be collected by buyers agents and investors.
huh? banks pay out interest as well; I'm currently getting 5% interest and paying 6% mortgage.
Last year they took away the offsets increasing my tax by $20 a week, and now they "give" me $15 a week. Don't do me any favours albo.
Recession is already here
Only a "per capita" recession ... for now.
Really? Recession? People starving on the streets?
I want to see RBA rates rise. And hopefully rid Australia of housing speculation, and return housing to its intended function: shelter for people. A place to call home.
Not a weapon used by government, buyers agents, mortgage brokers, and real estate agents to enslave the Aussie population.
Fiat monetary systems will always have 'sticky inflation'.
Rubbish.
problem is not in fiat but in governments, who can use fiat system as income source and do use them. If you cant print money to spend even if you are Great Fuehrer and Very Need it (because everything, as usual, fubar) - no inflation created.
5% is a minimum.
Come on. RBA, just do your job
So.....what is the.main cause of Australia's demand-driven inflation and what is Canberra doing to fix the problem?
Corporate gouging. . . . and no, no government can do a thing about record profits via gouging. .
Invent an epidemic of Domestic Violence campaign to distract the peasants
Its immigration........... bringing 500k people yearly. Increases demand for rental, food then the rest of the requirements etc. Canberra is doing nothing lol. Its the game. Its too hard for any government to fix and turn back, undo everything they have done for the last 40years lol, i think not, they will keep kicking the can down the road and pretend to do this and that etc but really nothing gets fixed.
@@bretloyd8097 : IMMIGRATION ! STOP It NOW !
All those immigrants which drive demand and house prices ever higher..
You will own nothing, you will not travel and you will learn to love the bbq bugs
If interest rates go up we will be able to afford more good things dude.
Must suck being you.
@@oldbloke204, good manners don’t cost a dime.
@@oldbloke204 🤨 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣 😎
@@rebeccaoliver7977 Get tired of seeing the same garbage over and over.
We also don't have dimes.
Things that were never said but the right actually believe 😂😂
Rate hikes will force defaults so houses will be cheaper for the migration wave incoming. Us in tents and migrants in our houses. I can see this happening a mile away. My kids will lose their homes. This is disgusting
cheaper? no way. If investors default - it means less houses building. Much less.And tenants pay, as they can not buy anything by themselves.
@@antontsau Lol you mean they aren't just buying up existing stock already? Who even trusts builders these days to complete a house?
@@Clluthu No one trusts, but builds. Unfortunately houses do not grow as mushrooms, by themselves.
And all these sales of old houses do not affect rent availability at all, it was 1 house for rent and it stays the same 1 house for rent.
@@antontsau that's the problem, investor confidence in new builds are at an all time low. Instead they would rather seek a diminishing stock and not actual contribute to the housing crisis of providing new homes to the current stock. One of the supposed benefits of an investor driven market....
@@Clluthu sale of existing building does not change anything for tenants. And new construction does not happen because of government bs - regulations, affordable housing ideas, interest rate (because government wasted a year budget and crashed economy simultaneosely) and so on. I carry on Mega Project to build a house in Adelaide, it started 2 years ago and still nothing really began, empty land where builders cant make survey and for which I pay $1k per month.
Every aussies are suffering and yet our govt sent 100mill of our tax money to zelansky
Here it comes 💥
They go up again and Albo can start packing his bags.
I really hope it comes true.
5 more rate hikes let's go 🚀
23 bill in 23+ out instantly
never heard of ***JUDO BANK *** 😊
So you are admitting to being financially illiterate.
Yes, Australians need pay raise but not mortgage rate raises. As soon tax go down Banks increase interest rate. Just another robbery 🥴😡😡
In the last twelve months the government has allowed over 500,000 visas.
That is a city larger than the population of the A.C.T / Canberra!
Can someone please tell me how long it took Canberra to be built and grow to a population of over half a million?
That alone would drive house prices up!
The economies in the USA , China and over a dozen countries countries are in recession ( using the formula we used for 39+ years) ( plus they haven't built a dam for drinking water, or a power stations to put electricity into homes for over 30 years. How many hospitals are in Canberra? Did Australia add 5 major hospitals last year. With plans to build 5 more per year ?
Australia's birth rate is 300 per 1000 x 27 gives us a natural population growth of over 8,000,000 plus 0.5 million planned visa's for the next few years.
Do we have the spots in our University’s to teach the Doctors and Nurses? Do we have TAFE places for Electricians, chippies and plumbers?
The USA has over $37 TRILLION in debt, and its debt is increasing at over $1 TRILLION every 3 months. Interest on current debt is $1 TRILLION per year. Govt revenue is approximately $4.5 TRILLION. Current GOVERNMENT spending is close $7 TRILLION.
The USA has maxed out its credit card and can no longer pay the minimum payment.
China's is lying about it economy and GDP. Unemployment in the 20 to 40 is over 35%.
China has exported 100's of thousands of unsold EV's into Europe. The EU only allows SOLD EV's to be shipped into the EU.
If the average person believes Channel 7,9, 10 ABC or Sky economists " tell them tgey are dreaming"
Albo doesn't have any control on what is about to happen!
Like others I feel Australia's base Interest rate will be at 5%+ by Christmas, 10% in early 2025 and over 15% mid 2025.
Now that said, with so many global economies failing all over the world they may create a black swan. WW3? along with CBDC's 😢 for governments to control where you spend your $ ?
All the immigrants pouring in will certainly add to inflation. Higher interest rates are just another price we have to pay for the privilege of having our country stuffed.
Interest rates are inflation not controlling inflation
16% up on house insurance. Do house insurers know the real rate of inflation better than the government who says it’s at 4%?
Inflation is manufactured! It’s not a symptom!……banks just being greedy! Oh record profits you say?….RAISE INTEREST RATES!!! the more you go along with that narrative the more you empower the rich
Greedy public servants.
Inflation is a tax,,,,who collects taxes?
Figures with your name.
The CPI per capita is already in recession, there is really no need for further rate hikes.
2% interest rates were always crazy and never sustainable. I can’t believe anyone ever thought otherwise.
It's all part of the Ponzi. Remember when they asked the previous RBA chairman about his property interests?
He says Australia will avoid recession. We already in recession.
Rising evvvreeething!
Maybe gov like vic should slow spending, gov created inflation with over spending.
Very true. That and excessive immigration.
Be careful what you wish for… you might want higher cash rate, but whether you are a buyer or a renter, you will be homeless, and homelessness will be driven up.
Remember: less investors = less rental properties
Be VERY careful what you wish for.
This wont help mortgage holders or renters.
the world is falling apart and he thinks the economy will correct its self
Hogan has a history of being right and NO, he is NOT saying "the economy will correct itself".
@@buildmotosykletist1987well hes wrong this time,and you follow him then.
@@kerrybarnes7289 : Let me know when you realise you are wrong.
@@kerrybarnes7289 : BTW, when did he say "the economy will correct itself" ???
@@kerrybarnes7289 : No reply. I thought that might shut you up.
I remember paying around 16% during another Labor government. People are grizzling now?
5% is actually healthy. !0% - 30% is troubled waters.
An economy can't survive at 0% or -0%
Unfortunately, a lot of people were conned into getting loans they couldn't afford with rises. Maybe the banks could be held accountable for this.
*cough*Japan.
"Not good news"!?
It's bloody wonderful news!
Tenants will cover the rate rises, not me.
@@RULE3O3 : So you are not a landlord or you'd know that "supply and demand" dictate rent prices.
Spot on! Cash rates will still need to rise for some time yet. All this talk of cash rate cuts was a "red herring" to avoid a massive sell off of properties by already overleverage greedy Aussies wanting to make quick gains by doing nothing productive that contributes to the economy. The "red herring" was to avoid a dramatic property crash to create more of a "soft landing", using the terminology normally used by the RBA in such a serious economic situation.
Pump up those interest rates!! Not everyone wants them low.
Smiles Miles the Queensland premier is helping. Giving his union mates 50 percent increase in pay. And having twice as many days away from work.
Lady off the drugs dude.
Higher please, I need to grow my house deposit.
Don't expect a housing correction or market crash.
Our govt is hell bent on keeping property afloat so a correction or crash would only come from external events the govt can't control. Such as what happened in the past to Japan, USA, Ireland & Spain...lol
Stop sending money overseas, so bring in immigrants. That’ll be a start
Australians are addicted to debt like a drug. Now the drugs have got more expensive.
I was paying 16.5% mortgage interest in 1989 under the Hawke government. I was broke.
Correct but not on the absurd amount required to buy an entry level first home now. And yes I understand that salaries were less, this argument has been debunked numerous times by economists and the salary to debt ration now it crazy. Salaries have not kept up,
Ok Boomer
16.5% on 70,000 compared to 8% on 1,000,000. What a st pi comment
any increase gets passed on to the tenant
Rates are still cheap.
Never should have gone below 3%.
I recommend ceasing the tax rate reform that will take place on 1st of July. The rax rate decreases will definitely increase inflation hence interest rate rises.
Yep government though is all too happy to let the RBA cop it all. Interest and home ownership arent be the only drivers of inflation and there are other levers that can be killed to rein in inflation. It's just the government doesn't want the public to put the focus on them for it.
Seems like a good idea, put more money into peoples pocket... /s
Yes it’s good interest rates should be 10% to control over priced property and groceries
i cant see them raising, people cant get loans to build houses because rates are so high which makes rents go up its a catch 22.
Hogan is rarely wrong.
Who's even building houses? The chance the builder goes bust is high or it's unsafely built with dodgy builders.
5% is nothing when new migrants reach 550,000. Can be higher than 5% at the end of 2024
There were more than 550,000 in 2023, net gain in population was over 700,000.
Home/building insurance has risen from $1200/year to $1,600/year.
Refined Olive oil from $10/ liter to $ 17/liter in 6 months time.
These predictions change by the hour. Give it a couple….
Your joking mine is already 7%NAB. So what you talking about
Hell no albos gotta go!!!!!
Glad I got Silver and Gold. Goddluck everyone else believing in fiat currency.
In goverment we trust. 😅
Prices fell in April.
Frozen green beans has risen in price from $2 to $3 in 6 weeks period; , then from $3 to $4.50 in the last 2 weeks period..
Excellent always good to hear those in charge couldn’t work out a piss up in brewery fucking useless, vote no confidence and get em out
No longer a lucky country.
Great news if you've got savings .... otherwise forgwet what Chalmers is telling you ... he doesn't have a clue .... a fake treasurer waaaaay out of his depth.
Double digit interest will come to tame inflation.
Good hope it goes to 20 % like it did not that long ago. And I hope the tax goes up even more. Also bring in the next Adam brandt government , come on Aussie vote properly ,Albos not hard enough. He needs to let much much more immigrants intot the country and represent the voters allot more. I think an open border with Indonesia will should be the go! Bring it on i say may as well.
YIPPY MORE INTEREST FOR CASH
2 more interest rate rises to flatten the curve...
The RBA has to do what’s right for the country and not for a select few with a large mortgage
Well said, Warren! It'd be better to let off steam now to prevent further stagflation.
5% or more would be great.. bring it on
Try 15% the time has come to take everything you have.
Meat bones $8 per kilo.
The joys of central banking.
And that is THE head of the snake. Sack the RBA and introduce a commodity back sovereign currency owned by the people. That's what willl happen in the US post November
@@Cheryl-sp7kngood thing you ain't running the country, we'd by using Zimbabwe dollars.
Sky News. Its almost May 2024. Interest rates could go up in 2024 ?. They could go down also in 2024. But if they do go down. Will you blame the government?
Classified minutes from the rba meeting. "OK let's increase unemployment, which will lower production supply, that will bring prices of fresh produce down".
It’s not only the interates it’s the extra tax labour has out on fuel etc,the worst government ever
at least one more rate hike needed.
“Not good news”!!!😊
Hahaha, no surprise about interest rates needing to rise. The RBA have been living in pixie land. Basic Economics says we are heading for a recession and need rates to rise.
100bps hikes inbound
5 !? Shock horror zzzzzz
Why would you want a soft economy?
For those of us old enough to be there this is nothing compared to the 20% plus we had back in the late 80's early 90's.
Ain’t going to happen. Stop creating panic amongst people.
Need a soft landing of housing boom. Need a control on people working crazy FTE of 1.5 or 2 a fortnight. All these things make a good proportion of people to spend more.
Waiting for the bubble to burst
😂😂😂
Rate hikes from here WILL crash the economy and send us into a f’ing massive recession. Economy is really slow here in Brisbane no one has money ,
It's what happens when your economy is so one dimensional. We have a lack on innovation and investment.
The savvy Aussie investor just pumps money into property and calls it a day. No risk all growth!
Economists always can talk something up or down, depending on who is paying them.
Then when they are wrong, as they usually are, it is like climate change predictions, no accountability at all.
Just like your uninformed opinion which has no merit or qualifications backing it? Who even are you?
The ignorance of this audience is nothing short of staggering… fascists alive and well
We own a shitty cheap house in a less desirable area near an airport that needs a lot of work. No mortgage. My kids go to private school. Many friends have high mortgages to live in desirable areas with good "free" schools and are being hammered. Raise the interest rates to 15% for me please. I'll happily take the savings boost.
Got anything cool?
The very next thread...
Predicted...
😆😆😆.... always a great belly laugh at sky Australia.
they are clueless
Good if you are saving though. I hope it gets to 17% then I can tell all the ALP voters it is the recession they had to have.
A very boomer thing to say. . .
@@bretloyd8097 when you live through it, then you quickly lose all pretence of being virtuous and thinking the government to be your friend.
We have a couple of generations who have no idea what doing it tough means - they need the life experience to awaken them from their soy latte sipping dreamworld and realise the government is not their friend, and never will be.
@@eb2505 "live through it" - do you mean 17% mortgage rates?
If so, I did. Was also taking home about 350 per week at one point.
@@bretloyd8097 you might, but many others haven’t haven5, but cheer on the government for their stupid, elaborate and expensive green policies, salute Dan’s projects despite egergeious and extraordinary project overruns with all the debt that has racked up. It looks like it is about to get very real for a lot of the virtue signallers.