In this month’s Finder RBA Cash Rate Survey™, 38 experts and economists weighed in on future cash rate moves and other issues relating to the state of the economy.

The majority of experts (82%, 31/38) correctly predicted a cash rate hold – keeping it at 4.35% in December.

Graham Cooke, head of consumer research at Finder, said it’s been a tough year for homeowners.

“The soaring cost of living has wreaked havoc on many families in 2023, with nearly 80% of Aussies affected.

“Everything from housing to groceries, petrol and energy costs more, and economic conditions are some of the worst in decades.

“While we expect the RBA could start cutting the cash rate late next year, we could see at least one more hike before that happens,” Cooke said.

Aussies with a $600K mortgage are forking out roughly $1,349 more per month than they were before the RBA started lifting the cash rate in May last year.

That’s an additional $16K over a year in mortgage repayments alone.

Full Article: Finder