Markets are pricing in a rate hike cycle to begin in May and continue to early 2024, with the cash rate levelling out at about 2.25 per cent.
“I’m worried about household budgets and households feeling the squeeze at the moment,” Mr Jones said. “Wages haven’t gone up in real terms in over five years. We’ve got households carrying a lot of mortgage debt. In its November statement on monetary policy, the central bank forecast trimmed mean inflation to remain below 2.5 per cent until the end of 2023.The bank’s outlook for unemployment was also smashed this month, when the December labour force figures showed the jobless rate at a 13-year low of 4.2 per cent, which the RBA had not been expecting to reach until December 2022.
Morrison keeps delaying the election hoping his chances will improve, only to find the opposite
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