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The Reserve Bank board has hiked interest rates another 25 basis points to 4.35 per cent despite believing that inflation had already peaked.
News
The four-month reprieve from interest rate hikes is likely to end next week with the Reserve Bank board expected to increase interest rates by 0.25 per cent.
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The national real estate market’s super Saturday ended with an auction clearance rate of less than 70 per cent.
Auction activity was tipped to skyrocket this weekend with a super Saturday forecast as 2880 auctions take place around the country.
Retail trade fell sharply in June by 0.8 per cent adding weight to speculation that the Reserve Bank will continue to stall any further rate increases when it meets next week.
Michele Bullock will be the next Governor of the Reserve Bank and the first woman to hold the post that has so much power over the economy and the fate of mortgage holders.
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