Quote Originally Posted by lenny888 View Post
I think we got at least one more rate rise followed by mass unemployment with multiple businesses collapsing
6 more 0.25% hikes according to an economist and he had a strong point. At 4.8%, the cash rate is still not high enough to actually counteract inflation. It only feels like it's too high for a small cohort that may have overleveraged themselves. You can't have an economy wide impact simply by making a few mortgage stressed people tighten their budgets. So it needs to go up to more than 6% to affect the entire economy.

EDIT: I also think that Australia is in a uniquely bad situation now because we raised rates too late and cut them too early back in 2021 through to 2025. Remember the "wait and see" approach? We were cheering that move like it was a genius move but now it feels like it's all coming back at us!