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Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, General

I have a sure thing to put your money on with Melbourne Cup this week.

There have been a number of years previously where the RBA have moved the official cash rate on their board meeting held on the Tuesday of the Melbourne Cup (in fact six of the last 12 years has seen a rate move by the RBA in November). This year however, you can put your money on “no change” as a sure thing! (sorry no horse tips I’m afraid).

The latest below-target inflation and falling house prices means that the RBA is in no hurry to raise interest rates, despite the 5% unemployment rate. In fact, I don’t expect a rate rise until November 2019 at the earliest with financial markets pricing in the first rate hike not until 2020.

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Source: Rural Bank


Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879