Interest rates: RBA expected to raise rates in February as inflation soars

A prominent economist has warned Wednesday’s rise in inflation would likely see the Reserve Bank of Australia lift its cash rate on February 7. Increasing for the fourth consecutive quarter, the Consumer Price Index (CPI) saw a year-on-year increase of 7.8 per cent, the highest annual increase since 1990. Chief Economist for Betashares, David Bassanese … Read more

JPMorgan’s Kolanovic sees correction, hard landing

JPMorgan’s Marko Kolanovic is abstaining from the early 2023 rally. Instead, the Institutional Investor hall-of-famer is bracing for a 10% or more correction in the first half of this year, telling investors he’s “outright negative” on the market. “Fundamentals are deteriorating. And, the market has been moving up. So, that has to clash at some … Read more

Markets may be underestimating how much the Fed sees the 1970s in today

Investors are placing a big anti-inflation bet on stocks this year that may not pan out, according to Wolfe Research. The S & P 500 is up close to 5% year to date, a move coming as markets look forward to the end of the Federal Reserve’s interest rate hikes, which were implemented to control … Read more

investors assess monetary policy outlook

US Treasury yields were little changed Monday as investors mulled the Federal Reserve’s next interest rate decision and considered the outlook for the broader economy. As of 5:27 am ET, the yield on the benchmark 10-year Treasury was up just 1 basis point at 3.497%. The 2-year Treasury yield was flat at 4.185%. Yields and … Read more

How fixed rate mortgage cliff will impact Aussie homeowners

In recent months there has been a great deal of debate surrounding the “fixed rate mortgage cliff” and its impact on the housing market and the broader economy. Opinions on the issue range from it being viewed as a relative non-event, to those who view it with far greater levels of concern. Rather than getting … Read more

Rental availability plummets in Sydney, Melbourne, Perth, as listings dwindle

Rental availability across Australia’s major cities has hit a 20-year low, with warnings the tight market is set to worsen through 2023. Strong demand for properties has met with low supply to cause a headache for Australians hunting for a home, according to the new PropTrack report. “With low volumes of stock available for rent … Read more

Wholesale prices fell 0.5% in December, much more than expected

Prices for wholesale goods and services fell sharply in December, providing another sign that inflation, while still high, is beginning to ease. The producer price index, which measures final demand prices across hundreds of categories, declined 0.5% for the month, the Labor Department reported Wednesday. Economists surveyed by Dow Jones had been looking for a … Read more

Home loan mortgage refinancing reaches another record high amid RBA interest rate hikes: ABS

More Australians than ever previously recorded have been refinancing their home loans as they try to dodge soaring mortgage repayments driven up by successive interest rate hikes. Figures released by the Australian Bureau of Statistics on Friday reveal more than 26,000 owner occupiers switched lenders in November last year. The value of owner-occupier refinancing between … Read more

RBA cash rate: Economists expect .25 interest rate hike after ABS release of November monthly CPI

Economists are tipping another interest rate hike after “disappointing” data released this week revealed inflation had climbed back to a 30-year high. The Reserve Bank of Australia is expected to raise the cash rate by a further 25 basis points from its current 3.10 per cent when its board meets for the first time since … Read more

China’s reopening seen to boost Hong Kong’s property market

In light of China’s reopening and easing of Covid rules, Hong Kong’s property market will be on a path to recovery in 2023, according to property consultancy Colliers Hong Kong. The retail market in particular will reap the “best benefit,” Hannah Jeong, Colliers’ head of valuation and advisory services, told CNBC’s “Squawk Box Asia” on … Read more