From worrying about another rate rise, the question now is when the Reserve Bank will move to cut rates. For those wanting to buy their first home, this, however, brings the worry that house prices will again soar and housing affordability fall even more.
Three weeks ago, the market was pretty sure the RBA was not going to raise rates. Yes, as I noted, there were lots of rumblings by inflation hawks who wanted the RBA to be tougher – such as the US Federal Reserve had been – but, for the most part, the signs were that the RBA would keep rates steady for a while.
