US stocks mostly rose ahead of a Federal Reserve decision, with analysts expecting the central bank will keep rates on hold today.
The fund said while fiscal policy was working in line with monetary policy, higher interest rates would be necessary to bring down inflation, which has eased to 5.4 per cent but remains well above the RBA's 2 to 3 per cent target band. It called on the federal government and state and territory governments to "implement public investment projects at a more measured and coordinated pace, given supply constraints, to alleviate inflationary pressures and support the RBA's disinflation efforts".
It turns out that there are still more Aussies moving from the capital cities to the regions than vice versa, with recent years seeing the reversal of a decades long population drain from regional areas. The figures, which cover the period of the three RBA meetings at which interest rates were left unchanged, represent a new record high — up 7,000 on a month ago.
Roy Morgan has modelled the impact of two potential RBA interest rate increases of 0.25 per cent in both November and December, which would take the cash rate to 4.6 per cent. Interest rates are only one of the variables that determines whether a mortgage holder is considered "at risk". "Pockets of stress are likely to grow in the medium term as highly indebted households continue to be tested by higher debt servicing burdens," the Reserve Bank of New Zealand said in its semi-annual Financial Stability Report.
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