Glen Jones’ Post

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Director - Debt Advisory - Financial Management - Business Owner

I am not sure there would be an economist out there that would be expecting any change to the interest rates today, it is worth remembering that there will be an interest rate decision form the RBA Board today. In line with its new meeting schedule, the RBA board commenced its two-day meeting yesterday, with its decision to be announced at 2.30pm In a big change for 2024, the RBA board will only meet eight times a year, or roughly once every six weeks, rather than on the first Tuesday of every month, except in January, as it previously did. Whilst the big four are all predicting an interest rate cut at the end of the year there are those like Warren Hogan that have warned the next move could be to increase interest rates in the middle of year, if economic growth picks up. “We’ve only had one rate hike since July 2023, and we know that we’re going to get a big boost to disposable incomes, starting on July 1 this year with the tax cuts,” Mr Hogan said. “And, of course, what the national accounts show, along with other data, is the rest of the economy [outside the household sector] is doing fine.” In worrying news, Mr Hogan was found to be the most accurate RBA cash rate economic forecaster out of 29 economists ranked by The Australian Financial Review in 2023. The bumpy ride may not be over just yet... todayttps://https://lnkd.in/gM2P_chm

Australia's RBA to hold rates on March 19, cut later in year - Reuters poll

Australia's RBA to hold rates on March 19, cut later in year - Reuters poll

reuters.com

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