"Any further increases in the cash rate beyond the current 3.1 per cent could unnecessarily tip Australia into recession in 2023," partner Stephen Smith said.
Treasurer Jim Chalmers said he wasn't expecting a recession this year and wouldn't be interfering with advice for the independent Reserve Bank. "One of the things about these interest rate rises is that the impact is felt by a lot of people who have variable mortgages immediately," Dr Chalmers said. "One of the things that we're keeping a close eye on through the course of 2023 is when people come off very low fixed-rate mortgages on to variable-rate mortgages."
Source: Loan Digest (loandigest.net)
How many households have a mortgage?
The recession we had to have 😞
Vassal govt…. Nationalise our gas. We have nothing to do with NATO as the name implies. Stop being a vassal to US policy and grow up
The damage was done when the Liberals handed out hundreds of billions of dollars to people who didn't even need it, including to companies who were making record profits, and in support of luxury industries that should've been thinned-out. & it was made worse by a slow to act RBA
What about IT&T and other jobs. Outsourcing/insourcing/work&skilled&business visa/Regional&state sponsored visa. Companies must pay monthly fees to govt for work&business visa. Why work visa is staying for so many years?immigration must publish all visas/companies/salary data.
No action from our treasurer. auspol Auspol2023
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