Financial toll on homeowners deepens as RBA governor warns rates will stay high | The Business | ABC

RBA governor Michele bullock has shaken off a dispute with the Treasurer and reaffirmed the central bank will not cut interest rates until inflation is under control. She warned some Australians will have to sell their homes and said more people are seeking help from community organisations as the economy slows down and unemployment rises. She revealed five per cent of owner-occupiers with variable-rate mortgages are in a "particularly challenging situation". The Reserve Bank has lifted interest rates 13 times since May 2022.
#ABCBusiness
Subscribe: ab.co/1svxLVE
Read more here: www.abc.net.au...
ABC News provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation.
For more from ABC News, click here: ab.co/2kxYCZY
Watch more ABC News content ad-free on ABC iview: ab.co/2OB7Mk1
Go deeper on our ABC News In-depth channel: ab.co/2lNeBn2
Like ABC News on Facebook: / abcnews.au
Follow ABC News on Instagram: / abcnews_au
Follow ABC News on X (Twitter): / abcnews
Note: In most cases, our captions are auto-generated.
#ABCNews #ABCNewsAustralia