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David Koch says a tiny bit of effort can save thousands. Picture: Jono Searle<\/p>\n
The August inflation reading of 3 per cent all but confirmed there would be no mortgage relief at the RBA\u2019s September 30 meeting, but that doesn\u2019t mean borrowers can\u2019t get themselves a rate cut, according to former Sunrise host David Koch.<\/p>\n
Kochie, now economic director for Compare the Market, said that while rates decreased by 0.25 per cent to 3.60 per cent in August, leaving average borrowers with a $660,000 loan around $105 better off each month, it was becoming increasingly unlikely that the RBA would lower rates in September.<\/p>\n
\u201cThe latest monthly CPI data shows headline inflation rose 3 per cent. While this is only a monthly figure, I wouldn\u2019t be hedging any bets that we\u2019ll see rate relief at September\u2019s board meeting,\u201d Mr Koch said. \u201cThe RBA will no doubt be taking a \u2018better to be safe than sorry\u2019 approach here.<\/p>\n
MORE: Millions of Aussies \u2018worse off\u2019 after rate cuts<\/a><\/p>\n \u201cThey\u2019re walking a tightrope right now, balancing between lowering rates to help homeowners who have been hammered over the past few years and preventing inflation from creeping back outside the target range.\u201d<\/p>\n He added that further relief would largely depend on quarterly inflation data to be released in October.<\/p>\n \u201c(The RBA will) be looking very closely at things like the rate of employment and export demand. But there\u2019s still a lot of uncertainty around the global economy right now, so it\u2019s very touch-and-go. <\/p>\n \u201cBut providing key factors remain in the RBA\u2019s target range, we may see some further relief in November. Wouldn\u2019t that be a nice Christmas present?\u201d <\/p>\n