Deloitte (Deloitte Access Economics)’s latest forecast expects official interest rates to remain at a record low of 0.25%. Mortgage holders do not have to worry about rising mortgage costs for many years to come.
But after that, the agency expects the economy to grow by 5.3% in 2021-22 and another 4% in the second year. After a sharp fall in 2020-21, private consumption, housing construction and private investment are expected to increase. These predictions depend on when the Australian border will reopen and when a new crown vaccine will be developed.
Of course, these predictions depend on when the Australian border is reopened and when a new crown vaccine is developed. .
