Borrowers Warned Not to Count on 2024 Rates Relief

Published on April 25, 2024

Australian mortgage holders should not be banking on interest rate relief following surprisingly strong quarterly inflation data. The March quarter consumer price index revealed lingering price pressures, especially for services such as education, health, rents and insurance, slimming the chance of interest rate cuts any time soon. Fewer or no cuts in 2024 will delay much-needed home loan repayment relief by hundreds of dollars for many mortgage holders, according to numbers crunched by financial comparison site RateCity. On a quarterly basis, inflation accelerated from 0.6 percent in the three months to December to rise one percent through to March, above the 0.8 percent consensus forecast....

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