In this month’s Finder RBA Cash Rate Survey™, 42 experts and economists weighed in on future cash rate moves and other issues relating to the state of the economy.

All experts (100%, 42/42) correctly predicted a cash rate hold – keeping it at 4.35% in September.

Graham Cooke, head of consumer research at Finder, said many homeowners are holding out for a cash rate cut.

“Due to the sharp and rapid rise in mortgage repayments, millions of Aussies are under significant financial stress.

“A whopping 40% of homeowners say they are struggling to pay their home loan in September, according to Finder’s Consumer Sentiment Tracker.

“The good news is that a rate cut is looking much more likely this side of Christmas, following the US Federal Reserve slashing American interest rates by 50 basis points.”

Household personal debt is likely to rise

Households saved just 0.9% of their income over the past year, according to data from The Australian Bureau of Statistics (ABS). This was the lowest rate of annual saving since 2006-07.

Full Article: Finder