Leave your feedback Share Copy URL https://gographicsoutput.com/video/V4YXo7T38lm.html Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter Mortgage borrowers feeling poorer as RBA lifts rates | The Business | ABC NEWS [Wd1Yu6ZnGcA] Health Updated on August 07, 2026 EDT — Published on August 07, 2026 EDT The Reserve Bank has delivered its third consecutive rate hike this year, but its governor, Michele Bullock, signalled the central bank now has time to wait and see how the Middle East war is affecting the economy. The RBA governor says the rate rises were necessary as inflation was already too high, even before the conflict broke out. While Ms Bullock acknowledges people are "feeling poorer" as a result of mounting cost-of-living pressures, she is not expecting a recession in the foreseeable future. Also, The Business speaks with Westpac Chief Economist Luci Ellis, who says the odds of a follow-up rate increase in June is looking more unlikely. #ABCBusiness Subscribe: Read more here: ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: Watch more ABC NEWS content ad-free on ABC iview: Go deeper on our ABC NEWS In-depth channel: Like ABC NEWS on Facebook: Follow ABC NEWS on Instagram: Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia ndHwrOXVocj 0ytDO8k6Jse bnN1ttx2vjl qXAuKdQlbfU JZbqdUfyC6N ZUiMioFT7W1 hY7gBGnAhur
The Reserve Bank has delivered its third consecutive rate hike this year, but its governor, Michele Bullock, signalled the central bank now has time to wait and see how the Middle East war is affecting the economy. The RBA governor says the rate rises were necessary as inflation was already too high, even before the conflict broke out. While Ms Bullock acknowledges people are "feeling poorer" as a result of mounting cost-of-living pressures, she is not expecting a recession in the foreseeable future. Also, The Business speaks with Westpac Chief Economist Luci Ellis, who says the odds of a follow-up rate increase in June is looking more unlikely. #ABCBusiness Subscribe: Read more here: ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: Watch more ABC NEWS content ad-free on ABC iview: Go deeper on our ABC NEWS In-depth channel: Like ABC NEWS on Facebook: Follow ABC NEWS on Instagram: Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia ndHwrOXVocj 0ytDO8k6Jse bnN1ttx2vjl qXAuKdQlbfU JZbqdUfyC6N ZUiMioFT7W1 hY7gBGnAhur