Think the RBA will lift rates on Melbourne Cup day? Don't bet your house on it
- Written by Peter Martin, Visiting Fellow, Crawford School of Public Policy, Australian National University
Each of Australia’s big four banks is now predicting a rate rise in six days’ time on Melbourne Cup Tuesday. It would add another A$77 to the monthly cost of servicing a $500,000 mortgage and be enough to take the total extra monthly impost since rates began climbing to more than $1,000.
Why on earth would they be expecting the Reserve...
