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AAP
AAP
Business
Jacob Shteyman

Higher for longer: why low rates are relics of the past

Interest Rates RBA Christopher Kent Inflation Monetary Policy Luke Yeaman Paul Bloxham Commonwealth Bank
Mortgage holders are bearing the brunt of higher spending from both governments and AI companies. (AAP PHOTOS)

Mortgage holders can expect interest rates to stay higher for longer, whether or not the Reserve Bank raises them again on Melbourne Cup day.

The RBA has been warning that the intense competition for global capital among artificial intelligence and data centre companies is pushing up its estimate of how high interest rates need to go to keep inflation sustainably low - otherwise known as the neutral interest rate.

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