RBA expected to hike to 4.6%; further rises could devastate property market

The RBA is widely expected to raise its cash rate to 4.6% on Tuesday, the fourth hike this year. Experts warn that additional hikes would be 'devastating' for the property market while failing to improve housing affordability, as higher borrowing costs outweigh price declines. This signals persistent inflationary pressure and potential stress in the Australian housing sector.