Fourth rate hike looms as recession fears grow | 7NEWS
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The Reserve Bank is expected to announce its fourth interest rate hike of the year, potentially reaching the highest level in 15 years. Monthly repayments on an average mortgage will increase by more than $100, bringing the total monthly increase to over $400 since January. Federal Treasurer Jim Chalmers attributes rising inflation and fuel prices to the Iran War, while the opposition points to government spending, with economist Warren Hogan warning of a 50-50 chance of recession within 12 months. Subscribe and set 🔔 » https://7news.link/YTSubscribe | For the latest Australian news and breaking news alerts, connect with 7NEWS online: Visit » https://7news.com.au 7Plus » https://7plus.com.au/ 7NEWS Podcast » https://open.spotify.com/user/dm9fk9hzoe68ibpttheragdgi Facebook » https://www.facebook.com/7NewsAustralia TikTok » https://www.tiktok.com/@7newsaustralia Instagram » https://www.instagram.com/7newsaustralia/ X » https://x.com/7NewsAustralia 7NEWS combines the trusted and powe
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