Episode Details

Australia faces a potential Reserve Bank interest rate hike that would give it the second-highest cash rate in the developed world, behind only Iceland. The expected 25 basis point increase would raise the official cash rate from 4.35% to 4.6%, pushing mortgage rates with major banks to around 6.5% and adding $120 monthly to repayments on an $800,000 loan. UNSW economist Richard Holden disputes the Treasurer's attribution of inflation pressures solely to the Iran War and oil prices, noting trimmed mean inflation sits at 3.6%, well above the Reserve Bank's 2-3% target range.

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