Could it be, as Zeus1 implies, that listed NAB has raised its forecasts for the RBA cash rate?
Some economists expect two further 0.25 per cent cash rate rises. My guess is there may be more than that, although it depends on services inflation that seems to be still rising, as well as the labour market that remains quite strong, and importantly, whether we have a wage-price spiral given Labor and its militant unions are in control in all the mainland states plus the Federal government.
Goods inflation is allegedly under control, and container shipping rates have reduced, while port delays are a lot less or not a factor any longer. However while by no means comprising all of the RBA's basket of goods and services, if one goes to major supermarkets, price rises seem to be continuing. Aldi has apparently increased prices faster than market leader WOW, or COL. Not sure about IGAs even though occasionally I shop at a large format one.
High inflation will affect more groups than just the percentage who have a home mortgage. There can also be a herd effect whereby many with substantial assets and income lower their spending due to being convinced by media or family that 'now is not the time' to spend up, so that may hit discretionary retailers such as MYR.
As always, please DYOR and don't take my words as some secular New Testament.
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