With RBA predicted to lift cash rate for fourth time this year on Tuesday, experts warn a fifth rise would be ‘overkill’.
The RBA’s monetary policy board is widely expected on Tuesday afternoon to announce an increase in its cash rate to 4.6%, from 4.35%, in a decision that will add another $100 to the monthly mortgage interest bill on a $700,000 loan.
A rate hike on Tuesday would push the cash rate to its highest level since late 2011, and a further increase at the next meeting in November would push it to 4.85% – the highest since just before the GFC, Oliver said.
3 sentences from our version of the report,
chosen to cover it. Nothing here is written; every line is in the article below.
How
Summarized version
Some analysts are tipping a further interest rate rise on Melbourne Cup day. A rate hike on Tuesday would push the cash rate to its highest level since late 2011.
The report’s most important sentence, shortened and in plain words. How
Headline check
The one thing this headline claims is not in the report.
The headline puts “‘devastate’” in quotation marks. Nobody says those words anywhere in the report.
Figures, names and quoted words in the headline, looked for in the report itself — not in the summary above. How this is checked
The article, shortened and in plain language
With RBA predicted to lift cash rate for fourth time this year on Tuesday, experts warn a fifth rise would be ‘overkill’.
Two or even three more Reserve Bank interest rate hikes would be “devastating” for the property market but still leave housing more unaffordable than ever as higher borrowing costs trump lower prices, experts say.
The RBA’s monetary policy board is widely expected on Tuesday afternoon to announce an increase in its cash rate to 4.6%, from 4.35%, in a decision that will add another $100 to the monthly mortgage interest bill on a $700,000 loan.
Financial markets are even pricing in a 60% chance of a sixth rate increase by mid-2027.
As petrol prices push towards $2.40 a litre, Shane Oliver, AMP’s chief economist, said two or three more rate hikes would be “overkill” given the already weakened state of the economy and families’ finances.
A rate hike on Tuesday would push the cash rate to its highest level since late 2011, and a further increase at the next meeting in November would push it to 4.85% – the highest since just before the GFC, Oliver said.
Shortened to 1 minute
of reading, this version reads 12.7 on the Niral Score.
You are reading our version, not theirs.
This is The Guardian Australia's report shortened to its most important sentences, in plainer words, with
verdicts and loaded words taken out. Plain description stays, and so do adjectives
that carry a fact, such as "former" or "federal". The reporting, the facts and the quotations
are theirs — quotations are never edited — and the indicators beside it measure
this version. Hover or tap Adjectives to see every one left in the text.
How this outlet filed it, and how we rewrote it
No other newsroom we read has filed on this event, so there is nothing to compare it with yet.
Readers can ask a question about this story here.
Questions and answers are for subscribers.
Sign in
to read them.
Comments are read before they appear where anything in them needs a person to look.
Nothing posted here is ever deleted; a comment taken down keeps its text and the reason,
so the decision can be looked at again. How this works
