RBA 'changed its forecast' for Australia's 'future' economy and interest rates
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- Опубликовано: 12 сен 2024
- Sky News Business Editor Ross Greenwood says the Reserve Bank “changed its forecast” for where the Australian economy and interest rates will go in the future.
The Reserve Bank of Australia has kept the official cash rate on hold at 4.35 per cent in August.
“After the announcement … Michele Bullock was at pains and several times said … we do not believe there will be any interest rate cuts this year, and indeed we don’t see it in the foreseeable future,” Mr Greenwood told Sky News host Peta Credlin.
“So almost pushing it out at least six months.
“Now the Reserve Bank also changed its forecast for where it believes the economy and potentially interest rates will go into the future.
“Effectively it's saying now that the Australian economy will weaken, but then will start to become more boosted during the middle of next year.”
It’s not about cut or raise. It’s about corruption and greed. Nothing to do with interest rates.
interest rates will do nothing for inflation which is caused by government uncontrolled increase in currency supply
@@Paul-nu7nj Japan just launched new banknotes. Everyone should have known what’s coming.
It’s true. Hyperinflation likely to occur no matter what.
RBA is no more independent but are being scared and intimidated by government. They are scared because the RBA governor was forced to resign by government and the new governor is intimidated to increase the rate based on inflation. Australia is going in the wrong direction.
Liberals did the same by holding interest rates at an all time low. When labour got in power the RBA let it rip.
I don’t know what it is about Ross greenwood, but he has been the face of Australian finance for so long I always check what he says against what others say. Tks Ross
Thanks Albo just keep spending on crap we don’t want or need!
A cut means the underlying economy is bad and as soon as they admit that we're all fucked.
This will definitely hurt our economy, especially investors and the government cares less. At this point, I'm just fed up. Is it possible to invest in foreign markets or economies without living in that country? Like can you invest in for instance the US market from Australia?
i think you can. don't know how though😂
Yes it's possible and there are a number of ways you can do this but it's better using a finance expert in the country you want to invest in. They're usually not very expensive and know their way around the markets and taxes better. I am also in Australia and investing in the American market and it's been wonderful so far. Goodluck.
Thanks. Please how can I get a good one
You should start by looking out for those from known firms and good track records. You should also make sure the person is licensed. Personally, I use Michael, Allen Eckrich. He's good and you could also look him up.
Yeah you can... Not directly but companies copy the s&p500 and you invest in them... I'm in New Zealand and use this method
For all those saying to raise rates please answer how that will decrease inflation that is mainly due to increases in items that are not discretionary such as rents, insurance and energy costs.
Inflation will come down????. So rents and mortgages, rates, electric, water, gas, insurance, food etc will all drop back. I dont think so. Prices will never go down.
I dont think those expenses are included in the way they measure inflation. If they were inflation would be much higher. I don't think the employment figures are correct either.
Inflation is measuring how quickly prices rise, inflation going down just means the rate of price rises is slower. So yes, prices won't go back, it just won't be going up as fast
EXACTLY!!! “At the start of the year WE were talking about cuts coming” THE RBA HAVE NEVER SAID OR HINTED AT CUTTING RATES THIS YEAR.
just shows that its all spin, they say what they need to say in order for markets to respond.
The RBA will totally screw the real economy, then suddenly put Edward Scissorhands to shame.
We are being controlled by something evil.
the international banking cabal
Socialists
@@presidentxijinpingspoxdoct9756 no, more biblical
If we have a bank (RBA) is controlling interest rates, why do we need a government because there not doing anything to lower the so-called inflation.
At 59 and recently laid off, I’m at a breaking point. With $425K saved for early retirement at 60, $10K in an HSA, and a property that could yield an additional $200K, what are my options for generating steady income?
It’s reasonable to consider getting a financial advisor now, but delaying retirement might be a wiser choice.
I’m unsure weather to find another job or merge all my investment accounts into one. If I do, how should I handle it, and are there any potential drawbacks? I also plan to sell my property, which could add $200K over time. Should I consolidate my investments into a single account or spread them across various markets?
These are crucial questions for a financial planner. I met mine at a NYSE summit, and with her help, my wife and I reallocated our $1.7M portfolio between a traditional IRA and a brokerage account. She’s been making investments with our approval and has helped us recover twice our losses. We’re holding steady and carefully navigating more markets
That’s impressive! My portfolio is struggling. Who’s the advisor?
Leah Foster Alderman. Look her up online; she’s well-known.
Bullock is making Sure Albozzo and Charmless, don't Look Bad !
SO TRUE … even though the liars are absolutely USELESS🙄🤥😡
Hold. Hold. Hold. Christmas is coming. 😄
What if RBA inflation expectations are blunder and rubbish 😂
Yup they are, and the worst part is the RBA has a single tool, only one, only a single interest rate to (supposedly) control employment, capital cost, bank lending, stocks, the economy, what a joke. Even a 5 year old won't believe a story that shallow. The RBA is a reactionary agent in a global system, it controls barely anything
They are, the official inflation is determined by the price difference of a set list of items and services, it really doesn't reflect the actual price increases experienced by most people. While it takes things like bananas into account, it doesn't account for things like rent.
The true inflation rate has been vastly worse for the last couple of years.
Construction & Hospitality businesses are falling over at the rate of knots.. Cut immigration which leads to rent increases & insurance coys are rapping people both of these factors are feeding into inflation. GDP is on life support. The 2-3% inflation target band needs to be recalibrated as it was set 25 yrs ago. Turkeys inflation is over 40%… 3.8% inflation is too high. RBA = text book economists…
Every month people are paying $2500 and greater extra that’s not a reprieve it’s a unwise decision made at 0% interest rates
Raise rates ya muppets
Why? What will increasing rates do?
They said all in january, unlikley to go down, possible to go up, valid all this year.
This is the same RBA that said no interest rate rises until 2024…. in 2020. Brave of you to accept an RBA forecat. 😊
The Plunge Protection Team in full swing today🩸
Well as for me 'a saver' I do not want a cut - for years no one cared that my wealth decreased because of non existent interest rates. My advice is do not borrow if you cannot afford around 5 interest rate hikes.... only the banks win.... but hey hold some gold.
So because you're an idiot that just left their money in a bank account to rot away (inflation is rarely lower than interest rates) you want everyone else to suffer? Seriously, invest your money, in any ten year period invested in a basic index fund you would have dramatically beaten any banks interest rate.
"saving" is the worst form of investment you could make.
The two hemorrhoids of the royal family are at it again. The drama continues.
As soon as the RBA cuts rates the craziness that we had last 30 years will start up all over again! Rates are just at 30 year long term averages where they should stay to stabilise the market!
Thanks for your honest opinion. I’m so fed up with these self-promoted property “opinion leaders” who clearly have a (in)vested interest in keeping up the property boom hype - even claiming to base it on data. They’re useless data analysts bc I’ve been watching this and I think you’re absolutely right. Hopefully government keeps removing the investor incentives and an excess of homes flood the market for those locked out since Covid.
🎅 Christmas is gonne ve fun in Australia
Labor appointed a puppet, where it should be a mutual position. More lies!
Fools. We do not need a cut. We need the government to stop spending money it doesn’t have.
Interest needs to be 25% for a few years. We have to stop expecting things for free, like children.
Stop giving our resources away.
Heavily tax rich people.
Finally, RBA shut all the economists who yelled loudest for rate cuts.
If the government or RBA want to take a feedback or survey on people’s perception about the outcome of their efforts, they just have to scroll these comment section. Most of the Australian news on RUclips disables comments section probably coz the govt is scared to read the ramifications of their actions.
Inflation has been too high for too long , yet they claim they want to bring it back down to target in a reasonable time frame , but refuse to raise rates further.
Is four years reasonable ?
I don't think so.
Soon they will have to raise rates , whether Chalmers likes it or not.
The problem is that they only have one tool in their toolbox and sometimes a hammer isn't going to fix things.
While they probably will eventually increase the rates, the problem is that the inflation hasn't been caused by discretionary spending, it's been due to price gouging from businesses that didn't reduce their prices after the supply chains improved and due to government spending, especially on things like green energy that have caused power prices to increase so much. Given power costs are a very big part of the cost base for a lot of businesses, it's understandable why inflation can't be controlled.
@@Jake12220 I agree , I think deliberate government policies are the main driver of what is now home grown inflation , namely high government spending , renewables forcing up energy costs and high immigration numbers .
Unfortunately the Government refuses to even acknowledge that they are responsible for inflation in any way , so the RBA will be forced to take more action.
whats the healthy inflation for a country? 1-3?
Its OK .... They need more time putting toner in the money printing machine ... whilst the banks make higher profits with higher rates ... and the rest of us pay for the stupidity of central banks and government spending . The fiat system is broken and been abused .
Its time we seek an alternative system not controlled by central planners or organizations .
We follow us : they are expecting rate falls from sept or even earlier
RBA is in dilemma, if interest rates increased then inflation will keeps increased as a result of investor raising rents
But if RBA decrease interest, then property price will keep jumping
So yah! Lets hold it!
Both increase or decrease will get RBA act as culprit
Remember the last GFC??
Bullock stated we are sitting at 4.35% whilst canada usa uk europe all have a > 5% rate, the aud needs to be 80c to the usd before it starts to effect inflation, we are 2-3% below where we should be. Jack em now.
Do you have a mortgage?
Who's spending money to put up cost of living can I have some.
The debtors are spending like crazy on credit cards. So they don't have money either!
RBA is run by the big four banks in reality
‘Why Labor seeking to Corporatise Australian Homes' 9.8.24 Senate Economics Leg Committee , Labor introducing Bill 15% reduction in tax foreign ownership can't use super to buy a home, will rent off your super, corporate housing, Senator Andrew
It will cut when the US cuts.
blah blah F BS
You must be kidding Ross ! look at the data....
We are all slaves.
👍👍
From $37K to $65K that's the minimum range of profit return every month I think it's not a bad one for me, now I have enough to pay bills and take care of my family.
📛 SCAAAAAMMMM 📛