00:00No relief in sight for Australian homeowners.
00:05I don't think there are interest rate cuts in the horizon for the foreseeable future.
00:10So what's the more probable outcome for next year? Interest rates going down or interest rates going up?
00:15David, probabilistic statements, you know I don't like to make those.
00:21Which means the current cash rate of 3.6% is as low as it gets.
00:26With inflation too high, but unemployment also rising, the RBA faces a tough choice.
00:33If the Reserve Bank is forced to lift interest rates next year, would that in hindsight have meant too many rate cuts for 2025?
00:42You could read it that way, but you could also read it and just, as I said, you go back six or seven months and a lot of people were saying we needed to drop interest rates quite a lot because things were very, very soft.
00:53A tough pill to swallow for homeowners like Matthew Britland.
00:57I'm feeling mortgage stress. You know, I'd like to go and see people in England, my family.
01:03I've not seen since COVID and I've not been able to do that largely, I think, because I have made the decision to buy a home.
01:11He bought his house when rates were at their highest in more than a decade and, like so many Australians, is feeling the cost of living pinch.
01:18A lot of Australians would have wanted some more rate relief, but wouldn't have expected it.
01:23This was the outcome widely anticipated by markets and by economists.
01:28Widely anticipated, but not widely welcomed.
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