Inflation Impact on Mortgage Holders

Australian mortgage holders may face higher interest rates due to a recent increase in inflation, with the trimmed mean inflation rate rising to 3.3% year-over-year. Market expectations for a rate hike in February have risen from 60% to 70%. With the Reserve Bank of Australia (RBA) set to meet soon, economists warn that the current inflation trend may compel action on interest rates. The RBA is aiming to reduce inflation to its target range of 2-3%.