Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Rates to rise in February

Staff Reporter 1 minute read

The unemployment rate has fallen 0.1 per cent to 5.7 per cent in November, bolstering views that the Reserve Bank will raise rates when they meet again in February.

NAB’s chief economist Alan Oster told Mortgage Business he expects rates to increase in February and March on the back of improved confidence and the lower than expected unemployment rate.

“It is my opinion that the Reserve Bank will raise rates five consecutive times and then keep them on hold to see what happens to consumer confidence,” Mr Oster said.

According to data from the Australian Bureau of Statistics, the male unemployment rate decreased 0.1 pt to 5.8 per cent and the female unemployment rate decreased 0.1 pt to 5.5 per cent.

While the participation rate decreased slightly across the month of November to 65.2 per cent, aggregate monthly hours worked increased 13.4 million hours or 0.9 per cent.

Rates to rise in February
default
TheAdviser logo

If you’re feeling overworked and overwhelmed in this fast-paced mortgage market, it’s time to make some changes, and the Business Accelerator Program can help! Tickets are on sale now. Work smarter, not harder, this year.

default

 

more from the adviser
ASIC TA ASIC levy reflects ramped up enforcement: FBAA

ASIC’s raised industry funding levies reflect higher enforcemen...

money piggy 2ad3 Lockdowns threaten business loan demand: Equifax

Construction and retail trade have fuelled business loan growth i...

mortgage money house 48% of home loan applicants frustrated by paperwork

The majority of Australian borrowers think applying for a home lo...