Sunrise host David Koch unleashes Australian Governor Philip Lowe
Sunrise host David Koch unleashes Australian Governor Philip Lowe

Sunrise host David Koch unleashes Australian Governor Philip Lowe

David Koch explodes due to rate hikes after RBA chief said there would be no increases for years – and now borrowers have to pay an extra $ 1,000 each MONTH

  • Sunrise host David Koch unleashes Reserve Bank governor on rates
  • Philip Lowe has repeatedly promised last year that he will keep the interest rate in cash until 2024

Sunrise host David Koch has left the Reserve Bank of Australia after Governor Philip Lowe repeatedly promised last year that he would suspend interest rates until 2024.

“At the end of November last year, December, Reserve Bank, Philip Lowe, told Australians to go out and borrow, to go out and borrow as much as you want, provided. I will not raise the official rates until 2024 “, said Koch.

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“A few months later, rates began to rise. That advice to the average Australian was careless, were they careless in their duty to train the average Australian in the garden to get into debt?

Banking giant ANZ now predicts that the RBA will raise interest rates by 0.5 percentage points in August, September, October and November.

This would double the spot rate, from a three-year high of 1.35 percent to a ten-year high of 3.35 percent.

Australian borrowers experienced 1.25 percentage points increases in interest rates in May, June and July – the strongest increases since 1994.

If the ANZ forecast comes true, a borrower with an average mortgage loan of $ 600,000 would have seen his monthly mortgage repayments increase by $ 1,060 or 46 percent in November, compared to early May, when the cash interest rate was still at a record low of 0.1 percent.

A popular Commonwealth Bank variable in May was just 2.29 percent before the RBA raised interest rates for the first time since November 2010.

But if the spot rate were to rise to 3.35 percent, as predicted by ANZ, a variable CBA rate would rise to 5.39 percent, from 3.39 percent today.

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The Commonwealth Bank reduced its floating rate by 0.15 percentage points at the end of June ahead of the July RBA meeting, which raised the spot interest rate by 0.5 percentage points.

Treasurer Jim Chalmers, who published a review at the Reserve Bank, laughed awkwardly when Today’s host, Karl Stefanovic, asked him if he had a “Philip Lowe voodoo doll.”

Reserve Bank of Australia, after Governor Philip Lowe (pictured) imposed the steepest increase in borrower rates since 1994, despite its commitment last year to keep cash interest rates unchanged.