r/AusPropertyChat • u/Finance_With_Piyush Property Enthusiast • 3d ago

Buying & Selling Anyone else stressing about another potential RBA rate hike this November(03/11)?

With inflation still sticking around and the big banks dropping hints, it’s looking more and more likely that the Reserve Bank of Australia (RBA) might lift the cash rate again at their November meeting(03/11)

My budget is already stretched to the absolute limit with the current mortgage repayments, and another 0.25% increase is going to hurt.

  • Are you guys fixing your rates now, or just riding it out?
  • For those renting, have your landlords already started hinting at another increase?
  • What’s the consensus here, do we think they’ll actually pull the trigger, or hold off?

Would love to hear how everyone else is preparing for this.

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u/MerdeOnTheDanceFloor 3d ago

Unemployment is edging upwards.

I don’t think we’re going to get another rate hike as a result, but the scarier issue is - unemployment is edging upwards.

4

u/NoVax-Djocovid 3d ago

Dreaming. Just look around with what happened when the card surcharges got banned - random “platform fees” higher than the surcharge and small business jacking prices up left right and centre, again by more than the surcharge.

Another .25% is all but locked in

1

u/isafakethrowaway 2d ago

I’m a SME owner. I increased my prices in July as we are always affected by the wage increases due to our industry.

I started banging on doors of payment providers as soon as I read about the changes and it was Crickets. We wanted to make some changes to our engagements and it was so hard to get traction. A lot of gateways said hardly any SME were actually doing anything about it, in advance.

I think a lot of businesses didn’t pragmatically put up prices prior to the ban, because they just absorbed them and aren’t very savvy. I think the ban really slapped a lot of them in the head with reality and they’re piling on some of the recent costs. The straw that broke the camels back.

We’re overhauling our engagements and will walk away from our payment gateway due to their lack of real engagement/coming to the proverbial table to provide any negotiation or flexibility. I think a lot of gateways are being short sighted - a lot of businesses will go belly up with these changes.