Rates to lift for third month in a row as jobs market tightens further

The Reserve Bank will impose the third interest rate rise on home buyers in as many months on Tuesday as signs grow the nation’s jobs market is increasingly tight with foreigners looking to get employment in Australia.

Home buyers are being hit by higher mortgage repayments while the entire economy struggles to deal with the surge in petrol prices.The Australian Institute of Petroleum on Monday reported the national average price for unleaded was 211.2 cents a litre. At the start of the year, and before the federal government’sOffsetting the impact of high prices is the strong jobs market with unemployment at 3.9 per cent and job vacancies at all-time highs.

“Australia’s unemployment rate is at a near half-century low, job vacancies have never been higher and recruitment has become increasingly difficult,” he said.“The key challenge for Australia will be attracting highly skilled workers in a tight and globally“Most of Australia’s staffing challenges are far from unique in today’s world. A range of countries are competing for the same pool of workers.

the BIG problem is the supply chain.......joe

Only ⅓rd of Australians have mortgages. Shifting even more of their income to bank profits will no doubt have a significant impact on inflation caused by global energy costs, natural disasters and Covid in China.

look at my boobs😘

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RBA’s inflation battle splits market on peak ratesThe country’s top economists are grappling with how quickly the Reserve Bank of Australia should raise interest rates without triggering an economic downturn. It's simple. The RBA shouldn't raise interest rates as an inflationary tool. It will only deliver bankruptcies, mortgage defaults, job losses and suicides; and is a useless tool. Current price driven inflation is not due to cheap money, but climate and war impacts Economic downturn is much more tolerable short term rather than runaway inflation. RBA and other central banks, ex BoJ knows this. We know what recession brings, it's frightening, but are we really ready to face price spirals to the north
Source: FinancialReview - 🏆 2. / 90 Read more »