RBA Plays Down Risk as Home Prices Plummet

The Reserve Bank of Australia (RBA) has downplayed concerns over a potential stability risk due to plummeting home prices. According to the RBA, less than one percent of borrowers are facing negative equity despite soaring interest rates.

RBA governor Michele Bullock is making no apologies for the latest interest rate hike. The move aims to combat inflation and stabilize the economy. However, critics argue that it may exacerbate housing market woes and lead to a further decline in property prices.