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RBA cash rate

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So it wasn't Phillip Lowes fault after all, who woulda thunk that, who is Jimbo going to blame now, while everyone gets inflated into the poor house.
The only ones cleaning up are the Govt and the property owners in sydney/ Melbourne, oh that's right they're the same.

Today

New governor, same mission: RBA sticks with unpopular rate rises

Michele Bullock had been in a honeymoon period with Australia’s mortgage borrowers since she took the RBA’s governor role in mid-September. That’s over now.
www.smh.com.au

May 2022

Everybody hurts: Chalmers says there will be pain as rates rise

Treasurer Jim Chalmers has used his first press conference to warn financial pain was coming for Australians as interest rates were pushed up by the RBA.
www.smh.com.au

June 2023

RBA interest rates updates LIVE: Treasurer Jim Chalmers says Reserve Bank needs to explain to Australians its rate rises

Jim Chalmers says minimum wage lift not to blame for RBA rate rise; business disagrees, blaming ACTU and wage increases for the rate hike; a critical dam in Ukraine has been destroyed; chances of El Nino event now likely. How the day unfolded.
www.afr.com

Labor sets up the RBA for a recession blame game

The economy will slow sharply, making governor Philip Lowe’s narrow path to a soft landing more precarious and the prospect of a hard landing plausible.
www.afr.com
 
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eskys said:
No, no, do it slow and gentle....make it smooth and creamy.....better that way until everyone wakes up.........okay, folks, have a nice evening...hope punters don't come back tomorrow and thrash the market
Click to expand...
You should be posting in Playboy.
Back on topic, everyone sweating.
 
My god the ABC is in meltdown, where's Phillip Lowe when you need him, to blame, oh no I didn't mean that. But now it's a woman, what do we do, we can't blame the Govt, we like them, OMG the confusion is horrendous.
We will put in a bit about we expect rates cuts soon, that should help.
Let's be honest, long term averages on rates are around 5-7% everything usually goes back to long term average, so nothing out of the ordinary yet.
IMO the Govt is trying to balance a soft landing on currency, with a soft landing on inflation, time will tell which one hits hard.
The fact that the dollar went down, when interest rates went up, tells us the market has maybe decided.
Hopefully the market does, what the Govt isn't prepared to do, sort our $hit out.

The RBA has raised interest rates, despite 'the economy showing more signs that it is weakening'

Interest rates hit a 12-year high as the Reserve Bank resumes hiking, with a 0.25 percentage point rise taking the cash rate to 4.35 per cent.
www.abc.net.au
 
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So once again those sitting in the shifting sands of Struggle Street will no doubt be tightening the belt another notch and hoping for the best, knowing that the only light in the tunnel is that train acoming at full speed ahead.
 
farmerge said:
So once again those sitting in the shifting sands of Struggle Street will no doubt be tightening the belt another notch and hoping for the best, knowing that the only light in the tunnel is that train acoming at full speed ahead.
Click to expand...
No those at the bottom of the tree, have less distance to fall.
That is what the elites don't realise, unfortunately, history repeats.

We are a small fish in a big pond, it is very easy for the big money to empty the pond, just ask Allan Bond or Christopher Skase, or John Spalvin.

How the takeover king of the 1980s came undone

John Spalvins controlled the biggest industrial group in Australia at the end of the decade but it all came crashing down.
www.afr.com
 
Ah now it's stubborn inflation, oh well that's good now we don't have to sack Michele Bullock, that's good it wouldn't have looked good.

RBA delivers Cup Day rate rise to rein in stubborn inflation

RBA governor Michele Bullock has signalled Tuesday’s interest rate rise may not be the last as she concedes inflation has remained higher and more persistent than expected.
www.smh.com.au
Reserve Bank governor Michele Bullock signalled that Tuesday’s interest rate rise – the first in five months – might not be the last as she conceded inflation had remained higher and more persistent than the central bank expected.
The RBA ratcheted up the official cash rate by a quarter of a percentage point to 4.35 per cent, the 13th increase since the bank started lifting rates in May last year.
 

So the question is, have we peaked?
I would be a bit surprised if they increased in December again, there is no meeting in January, so the next decision will likely be in February.
I am betting that be then, a slowdown will be evident, that then becomes more serious until they do the first rate cut.
So yes, I reckon we have peaked.
Mick
 
just in case you've missed it, RBA now has 2-day meetings, but only 9 times a year ... and not this coming Tuesday

2024 Reserve Bank Board meetings
  • 5–6 February.
  • 18–19 March.
  • 6–7 May.
  • 17–18 June.
  • 5–6 August.
  • 23–24 September.
  • 4–5 November.
  • 9–10 December
 
mullokintyre said:
Geez, what are we going to talk about now ...
Mick
Click to expand...
Interest rate futures traders expect Australia’s cash rate to fall 40 basis points to 3.95 per cent by next Christmas, with the Reserve Bank forecasting inflation around 3.5 per cent by the end of 2024 and just under 3 per cent by the end of 2025
.
radio silence till the next reset ?
 
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