Mortgage holders have been spared the prospect of further rate pain after one of Australia’s leading economists made a major call on the country’s next rate move and the state of the economy.
The economist, who worked at the Reserve Bank of Australia for more than 30 years, pointed to a housing downturn and a slowdown in consumer spending as key developments affecting the outlook.
The assessment suggests weaker conditions in the housing market and broader spending could limit the need for further interest rate rises.
