‘Sharper, longer slowdown’ predicted for economy as fifth interest rate hike looms
OMEGAZEPRIME News
This story was selected and curated by our editorial team in the Australia news category. Published on November 2, 2026 • Originally reported by Patrick Commins Economics editor. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
This story was selected and curated by our editorial team in the Australia news category. Published on November 2, 2026 • Originally reported by Patrick Commins Economics editor. OMEGAZEPRIME provides independent news coverage and analysis for our readers. Stay informed with the latest developments.
Australia’s central bank expected to hit mortgage holders again on Tuesday, as war in Middle East combines with collapsing house prices
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Australia’s economy is set for a “sharper, longer slowdown”, major bank economists say, as the Reserve Bank is forced to keep interest rates higher to rid the nation of persistent inflationary pressures.
The RBA is widely expected to hit mortgage holders with a fifth rate hike on Tuesday, in a move that will push the cash rate to its highest since 2008 amid rising worries the economy could even be tipped into recession.
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