Business interest rate squeeze sparks insolvency warning

Business News News

Business interest rate squeeze sparks insolvency warning
Business Business Latest News,Business Business Headlines

Households are not alone in being squeezed by the Reserve Bank’s frenzied push to increase interest rates, business are also being hit by rising interest rates, sparking a warning about looming insolvencies.

and stamp down growing inflation, businesses are also being hit, sparking a warning about looming insolvencies.

“Banks and the Australian Tax Office are returning to normal in terms of their approach in administering outstanding debts, and that’s putting pressure on many businesses who have had some breathing space.” The RBA on Tuesday increased the cash rate for a fourth consecutive month, taking it from a record low 0.1 per cent in May to 1.85 per cent, and financial markets are tipping it will increase above 3 per cent early next year.

“The 6.1 per cent year-on-year rise in the CPI in June shows that inflation continued to rise in the first half of the year,” Ms Southall said.

 

A 'frenzied' rise in interest rates to 1.85%......

Business Business Latest News, Business Business Headlines



Render Time: 2025-01-09 22:58:51