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RBA cautioned against rate hikes
With the world focused on the Paris Olympics, the Reserve Bank (RBA) is being advised to avoid hasty decisions regarding interest rate hikes.
Bell Partners Finance managing director Mark Stevenson (pictured above) stressed the potential repercussions of increasing the current OCR of 4.35%.
“The rate increases have had a big impact and continue to do so. Another increase will hurt badly,” Stevenson said, highlighting the struggles faced by mortgage holders amid 13 rate hikes in the past two years.
The recent increase in the inflation rate to 3.8% from 3.6% in March has sparked discussions on whether the RBA should respond with another rate hike. However, Stevenson warned against a reactive approach, noting the current economic pressures. $S&P/ASX 200 (.XJO.AU)$
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