‘Vigilant’ RBA puts home loan borrowers on notice

Governor Michele Bullock didn’t gatecrash Treasurer Jim Chalmers’ pre-budget build-up, but she has issued a fresh warning to home borrowers two years after the Reserve Bank of Australia began raising interest rates.

Bullock believes the 4.35 per cent cash rate is probably at the “right level” to slowly squeeze inflation back to target by 2026 – leaving it above the RBA’s goal for at least four years.