Opinion

Peter Martin | Will the RBA hike rates on Melbourne Cup Day? Don't bet on it

Peter Martin
November 1 2023 - 5:30am

Each of Australia's big four banks is now predicting a rate rise in six days' time on Melbourne Cup Tuesday, enough to add another $77 to the monthly cost of servicing a $500,000 mortgage, and enough to take the total extra monthly impost since rates began climbing to more than $1000.

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Peter Martin

Peter Martin

Columnist

Peter Martin is the business and economy editor of the Conversation and a visiting fellow at the Crawford School of Public Policy at the Australian National University. He is a former economics editor of The Canberra Times.

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