CPI 7.3% - Looks like interest rates set to rise higher. Aussie dollar going up slightly expecting RBA will increase at least 0.5% in Nov

https://www.news.com.au/finance/economy/int...98a04d8d6f392af

Standard variable rate in CBA now 7.05%
https://www.commbank.com.au/home-loans/interest-rates.html

A lot of people expected 0.5% in Oct but RBA only offered 0.25%. Now they expect at least 0.5 on Melb Cup day (1st Tues in Nov) - see the Aussie dollar going up slowly now. RBA is afraid going up too fast will create a recession in Aust which is why they dare not increase too fast but with the latest inflation (was a shocker!), RBA has no choice now.

7.3% inflation rate is a shocker!! No one expected inflation to be this high.

Usually RBA announce the rate on Melbourne Cup day (Victoria has a public holiday on that Tuesday due to the Cup) around 2.30pm - just before the Melbourne Cup starts.

Home loan borrowers will be the hardest hit esp those that borrow to the max - a lot of analysts are saying that housing prices will drop quite heavily in the coming few years (esp in Sydney and Melb as they have gone up the most).

Money market is betting on 0.5% or higher next week - AUD is currently 0.648789 after having been as low as 62c the past couple of weeks. If standard variable rate for home loans hit 9%, you may see a lot of distressed loans.

Let's see what happens next Tues - i am predicting 0.5% 

Thank you Hansel.

Whichever way it goes, it will be another 0.5 for the rest of this year. So if RBA goes 0.5% in Nov, then borrowers will have a happy Dec 

Thank you Hansel.

Whichever way it goes, it will be another 0.5 for the rest of this year. So if RBA goes 0.5% in Nov, then borrowers will have a happy Dec 

Stephen Lowe has been hinting on being careful abt increasing int rates. He does not want to be the fallguy for Australia suffering a REcession. I think,... it's be 0.25% only next week.

Bro Gary,... I'd like to update this thread by saying the following :-

There is an update as of 27.10.2022, and the update is : The RBA consensus says 54% going for a final rate of 3.10% next week.

So,... you could be right,... I'll update myslf too,...

I have to admit my prediction is wrong 

Have to eat the humble pie and keep quiet now  . I am surprised the Aussie has not dipped after the 0.25% announcement today - with the increasing difference in interest rates between US and Aussie, we may see the Aussie going down to US60c level soon.

Guys, want to inquire, how much is an average property (condo/landed) in Aussie and are foreigners allowed to borrow from banks at 80%-90%? My budget will be 3k/monthly with downpayment 10%

Thanks. Got it. Get in and plan accordingly.

For children schooling, do you know of any distinctions between a PR and foreigner for enrolment?

How much does foreigner need to fork out for preschool and primary school in comparison to PRs? Statistically how long does PR approval take? Is it guaranteed following application from work visa?

I'm not as well versed in regards to the price difference as I came to Aus as a PR.
It's quite likely different pricing for different levels of education based on the states themselves as they can vary greatly.

Your best bet is to wait for someone who knows to respond, or to check out immigration agents' websites like:
https://www.sableinternational.com/blog/aus...nd-who-does-not

Alternatively you can check out the Department of Education for international students like this NSW example:
https://www.deinternational.nsw.edu.au/study-options/fees