RBA’s Financial Stability Review gives reason for them to stay firm on interest rates

The Reserve Bank’s semi-annual Financial Stability Review gives reason for the central bank to stay firm on current interest rates.

Data shows one per cent of homeowners have fallen three months behind on their payments.

Mortgage holders have been cutting back on their discretionary spending.

The estimated $250 billion of pandemic savings are largely intact.

“The crisis is all about lack of supply,” Real Estate Institute of Australia President Leanne Pilkington told Sky News Australia.

“We have higher demand than we can meet, and with the government promising, but not delivering, on the new properties, it’s just not going to help.

“We’ve already got, at the moment, the average, across the country, to repay your mortgage is 47.7 per cent of your income, and that’s average.”

Видео RBA’s Financial Stability Review gives reason for them to stay firm on interest rates канала Sky News Australia