When does the RBA meet, what's expected to happen to interest rates and how much could you save?
1 month, 2 weeks ago

When does the RBA meet, what's expected to happen to interest rates and how much could you save?

ABC  

There could soon be relief for households with a mortgage, with economists predicting an interest rate cut when the Reserve Bank board meets in February. The board's decision to cut, increase or keep the official cash rate unchanged will be announced shortly after the meeting concludes at 2:30pm AEDT on February 18. Loan size Repayments decrease $600,000 -$92 $750,000 -$115 $1,000,000 -$154 Source: Canstar Further interest rate cuts would lead to more savings. For example, Canstar says two rate cuts would see monthly repayments fall by $229 on a $750,000 loan.

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History of this topic

Why the Reserve Bank poured cold water on future interest-rate-cut expectations
1 month ago

Why the Reserve Bank poured cold water on future interest-rate-cut expectations

ABC  

It didn't take long for the spectre of Oliver Twist to appear. No sooner had Reserve Bank governor Michele Bullock taken the lectern to confirm the news most Australians wanted to hear, that interest rates would be cut for the first time in more than four years, than the obvious question hung in the air. Relief for borrowers as RBA …

RBA delivers first rate cut since 2020
1 month ago

RBA delivers first rate cut since 2020

ABC  

Samantha Donovan: Hello, welcome to PM. So what we've seen is those really sticky items in the inflation baskets, I think insurance premiums, out-of-pocket health care costs, the cost of building a new dwelling or rental prices, those price increases have been such that the Reserve Bank has been worried that if it doesn't keep interest rate policy restrictive, and …

Borrowers on edge ahead of RBA decision
1 month ago

Borrowers on edge ahead of RBA decision

ABC  

Andy Park: Hello, welcome to The World Today. If by its very nature, the Reserve Bank cutting interest rates stimulates demand and increases inflation, if underlying inflation still isn't within the Reserve Bank's band of between 2% and 3%, won't an interest rate cut have policy makers put up the white flag on inflation? Jane Bardon: The independent Yolngu MP …

How banks are responding to Reserve Bank decision to cut interest rates
1 month ago

How banks are responding to Reserve Bank decision to cut interest rates

ABC  

Australia's major banks have already announced rate cuts following the Reserve Bank of Australia's decision to cut interest rates for the first time in four years. NAB announced it would cut home loan interest rates by 0.25 per cent, with Personal Bank group executive Ana Marinkovic saying they were "very pleased" with the decision. Variable home loan interest rates will …

How many more interest rate cuts is the RBA likely to make?
1 month ago

How many more interest rate cuts is the RBA likely to make?

ABC  

The Reserve Bank has finally delivered the rate cut many highly indebted mortgage borrowers have been crying out for. The bank's educated guesses of the neutral cash rate range from as low as around 1.5 per cent to nearly 4 per cent depending on which economic model and set of assumptions it uses. It could be that today's cash rate …

Reserve Bank cuts interest rates to 4.1 per cent after 13 rate hikes — as it happened
1 month ago

Reserve Bank cuts interest rates to 4.1 per cent after 13 rate hikes — as it happened

ABC  

Whether you've been hanging out with us all day or tuned in this afternoon, thanks so much for spending some of your Tuesday with us. But if you're hungry for even more interest rates content tonight, you're in luck. On 7.30, host Sarah Ferguson will speak to Treasurer Jim Chalmers and Westpac chief economist Luci Ellis about the RBA's decision …

Reserve Bank cuts interest rates for the first time since November 2020
1 month ago

Reserve Bank cuts interest rates for the first time since November 2020

ABC  

The Reserve Bank of Australia has cut interest rates for the first time since November 2020. RBA governor Michele Bullock noted that the rise in interest rates from the "emergency lows" of the pandemic had meant households with home loans were hurting, but argued high inflation caused more pain. At the post-meeting press conference, Ms Bullock said she couldn't confirm …

When will interest rates go down? Banks are preparing for the RBA's cash rate decision
1 month ago

When will interest rates go down? Banks are preparing for the RBA's cash rate decision

ABC  

The Reserve Bank of Australia is meeting and banks are forecasting an imminent cash rate cut. The cash rate target is set by the RBA and influences how much commercial banks charge customers for borrowing money — it's currently at 4.35 per cent. All of the big four banks — ANZ, Commonwealth Bank, NAB and Westpac — reckon the RBA …

RBA interest rate decision closely watched by families in mortgage stress in key marginal electorate
1 month ago

RBA interest rate decision closely watched by families in mortgage stress in key marginal electorate

ABC  

Mia McShane is a working, single mum of two under mortgage stress. "At the supermarket we will play games, picking the cheaper products and make it into a game so they don't realise," Ms McShane said. Working six days a week just to live Danielle Carroll has her "fingers and toes crossed" for an interest rate cut. Ms Goodes said …

Has the RBA got any choice but to cut interest rates in February?
1 month, 3 weeks ago

Has the RBA got any choice but to cut interest rates in February?

ABC  

There's something called a "momentum trade" on financial markets. Two of the big four banks had already tipped a February rate cut ahead of Wednesday's numbers, but Westpac has now joined them and NAB is reviewing its position. If the RBA chooses not to take its foot off the brake by keeping rates steady at 4.35 per cent on February …

Rate cut chances increase after inflation slows in final quarter of 2024
1 month, 3 weeks ago

Rate cut chances increase after inflation slows in final quarter of 2024

ABC  

The odds of an interest rate cut next month have increased, with official figures showing the Reserve Bank of Australia's preferred measure of inflation fell to 3.2 per cent over the year to December. The more volatile headline inflation figure came in at 0.2 per cent for the December quarter and 2.4 per cent for the year, down from a …

Will there be a February rate cut? Macro-economics says unemployment is key
1 month, 3 weeks ago

Will there be a February rate cut? Macro-economics says unemployment is key

ABC  

At 11:30am on Wednesday this week, the December quarter inflation rate will be announced by the ABS, with the nation's economists, bankers and mortgagees clustered, agog, around their screens. In the past 50 years, the RBA has only ever cut interest rates twice while unemployment declined — during the Asian crisis and US tech boom in the late 1990s, which …

A February interest rate cut is a real possibility, but there's at least one hurdle to clear
2 months, 1 week ago

A February interest rate cut is a real possibility, but there's at least one hurdle to clear

ABC  

At 11:31am AEDT on Wednesday, the Australian dollar began falling against the greenback. Inflation drop raises rate cut odds Photo shows A coloured graphic showing a petrol pump, coins, keys and a bag of fresh groceries against a backdrop of receipts A fall in the Reserve Bank's preferred measure of inflation has increased the odds of an interest rate cut …

When will interest rates go down in Australia? Here's what we know
2 months, 2 weeks ago

When will interest rates go down in Australia? Here's what we know

ABC  

Will this be the year mortgage borrowers finally get some interest rate relief? After that, the meetings are currently scheduled for the following dates, although the RBA has indicated some of those meeting dates may change: March 31-April 1 May 19-20 July 7-8 August 11-12 September 29-30 November 3-4 December 8-9 It's the second year of the board's reduced meeting …

RBA chief's major hint that there could soon be some VERY good news ahead for home-owners
2 months, 3 weeks ago

RBA chief's major hint that there could soon be some VERY good news ahead for home-owners

Daily Mail  

The Reserve Bank has given a strong hint borrowers are getting some interest rate cuts in 2025 even though inflation is still too high. The Reserve Bank has given a strong hint interest rate cuts are coming even though inflation is still too high While headline inflation is at a three-year low of 2.8 per cent, the RBA regarded this …

RBA Is More Confident on CPI, But Too Early to Declare Victory
2 months, 3 weeks ago

RBA Is More Confident on CPI, But Too Early to Declare Victory

Live Mint  

-- Australia’s central bank is more confident that inflation is moving sustainably toward target but it’s still too soon to conclude the battle is won given a recent pick-up in consumption and a still-tight labor market, minutes of the December meeting showed. The Reserve Bank’s board discussed scenarios in which future policy would be eased to boost economic growth or …

RBA forecast scenarios include interest rate hikes
3 months, 1 week ago

RBA forecast scenarios include interest rate hikes

ABC  

Samantha Donovan: To interest rates now, and while most analysts think another hike is highly unlikely, the Reserve Bank has indicated today nothing will be off the table next year when it comes to monetary policy. David Taylor: Betashare's chief economist, David Bassanese, says the Reserve Bank also has to factor in higher levels of government spending and how that's …

The RBA is preparing for all economic scenarios, including an interest rate hike
3 months, 1 week ago

The RBA is preparing for all economic scenarios, including an interest rate hike

ABC  

The Reserve Bank may have dropped the phrase "not ruling anything in or out" in its interest rates commentary, but that does not mean an interest rate hike is completely out of the question. That is because, as Dr Hunter explained, it would mean the RBA's key policy goal of achieving its mid-point annual inflation target of 2.5 per cent …

Reserve Bank governor opens door to February interest rate cut, but will she walk through?
3 months, 1 week ago

Reserve Bank governor opens door to February interest rate cut, but will she walk through?

ABC  

There was plenty of pre-Christmas cheer at the Reserve Bank press conference. Why productivity is key to any future rate cut Photo shows People on platform and at the departures board at Sydney's Central train station It's the RBA's latest buzzword for justifying why interest rates need to remain at restrictive levels. "I don't think we're quite tipping in the …

Reserve Bank keeps interest rates on hold in December but leaves door open to a February cut
3 months, 1 week ago

Reserve Bank keeps interest rates on hold in December but leaves door open to a February cut

ABC  

The Reserve Bank has left interest rates on hold in December for a ninth-straight meeting, but opened the door to a rate cut as soon as February. This is a change in language from the board's November statement, which said it needed to "remain vigilant to upside risks to inflation" and was "not ruling anything in or out". "While the …

When will interest rates go down? Not for at least a few months, the banks say
3 months, 1 week ago

When will interest rates go down? Not for at least a few months, the banks say

ABC  

The Reserve Bank of Australia's board is meeting for the final time this year to make a decision about the cash rate. But when the RBA changes the cash rate target, interest rates for mortgages don't automatically change — the individual banks decide that. That's where something called the "trimmed mean" — sometimes referred to as the underlying inflation rate …

The interest rate cut is good news for mortgage payers – they need more
4 months, 2 weeks ago

The interest rate cut is good news for mortgage payers – they need more

The Independent  

After a turbulent few weeks, the Bank of England delivered a soothing balm to Britain’s hard-pressed borrowers with a quarter-point cut in interest rates. The Budget also pushed the City’s interest rate swaps market higher – and it is this rather than base rates that governs the price of most popular types of mortgage: two or five year fixes. “Borrowers …

Interest rates might fall in February … but don't bet the house on it
4 months, 2 weeks ago

Interest rates might fall in February … but don't bet the house on it

ABC  

It's the hope that kills you. Rate cuts may not come until autumn, if they come at all Now even a February rate cut is looking unlikely, according to the money markets, which are pricing just 20 per cent chance of a cut, despite all four big banks and many other local economists forecasting it. Markets are pricing in a …

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation
4 months, 2 weeks ago

Reserve Bank keeps interest rates at 4.35pc for eighth-straight meeting despite lower inflation

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent for its eighth-straight meeting, despite inflation falling to its lowest level in almost four years. In a statement, the RBA said while inflation has "fallen substantially" since it peaked in 2022, underlying inflation remained too high at 3.5 per cent in the September quarter. The …

When will we get an interest rate cut? It's largely up to you
4 months, 3 weeks ago

When will we get an interest rate cut? It's largely up to you

ABC  

If you needed an excuse to be a bit of a tight-arse this Christmas, quote the latest inflation figures to your disgruntled family and friends. At 2.8 per cent, the annual headline inflation number plunged back within the RBA's 2-3 per cent target range for the first time in three years. At 4.6 per cent over the past year, the …

When the RBA cuts interest rates, housing affordability relief may only be temporary for first home buyers
5 months ago

When the RBA cuts interest rates, housing affordability relief may only be temporary for first home buyers

ABC  

Housing is about to become more affordable. Why the RBA will be forced to cut before year's end Photo shows Shoppers walk through Pitt Street Mall With growth at the slowest pace in Australia since the recession of the early 1990s, we are now faced with an ongoing economic crisis in China — our biggest trading partner — and the …

Major bank makes big call on interest rates - here's when home borrowers can expect some relief
5 months, 3 weeks ago

Major bank makes big call on interest rates - here's when home borrowers can expect some relief

Daily Mail  

A major bank has now revised its interest rate forecasts to have the Reserve Bank providing relief in February. National Australia Bank also forecast rates being eased by 25 basis points during every quarter of 2025 until the cash rate fell to 3.1 per cent in early 2026 for the first time since February 2023. A major bank has now …

When will interest rates go down? Here's what you need to know ahead of today's RBA meeting
5 months, 3 weeks ago

When will interest rates go down? Here's what you need to know ahead of today's RBA meeting

ABC  

The Reserve Bank of Australia board will announce its September cash rate decision on Tuesday at 2:30pm AEST. But when the RBA changes the cash rate target, interest rates for mortgages don't automatically change — the banks decide that. Ms Mousina says economic data since the RBA's last meeting shows: wages growth slowing job growth remaining solid the unemployment rate …

Interest rates are set to drop, but it's unclear when consumers will feel the impact
6 months ago

Interest rates are set to drop, but it's unclear when consumers will feel the impact

NPR  

Interest rates are set to drop, but it's unclear when consumers will feel the impact The Federal Reserve is gearing up to start cutting interest rates for the first time since 2020 — but a key decision looms: whether to start small or big. HORSLEY: Well, Juana, I can say with 100% certainty the central bank is going to cut …

Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?
6 months ago

Will the Federal Reserve cut interest rates fast enough to deliver a ‘soft landing’?

LA Times  

Federal Reserve Chair Jerome H. Powell speaks during a news conference at the Fed in Washington in May. Typically, Fed rate cuts lead to lower borrowing costs for things such as mortgages, auto loans, credit cards and business loans. Fed Chair Jerome H. Powell emphasized in a speech last month in Jackson Hole, Wyo., that the Fed is prepared to …

The US is about to start cutting interest rates, so expect Australia to follow
6 months, 3 weeks ago

The US is about to start cutting interest rates, so expect Australia to follow

ABC  

Just three weeks ago, Reserve Bank Governor Michele Bullock declared interest rate cuts unlikely in the next six months. But if there was any doubt about what's going to happen to global interest rates, the US Federal Reserve chair Jerome Powell removed it on Saturday. Rate cuts by the US Fed and other central banks will create a near-irresistible pressure …

The RBA expects to keep interest rates on hold. It's bad news for mortgage holders and a reality check for the government
7 months, 1 week ago

The RBA expects to keep interest rates on hold. It's bad news for mortgage holders and a reality check for the government

ABC  

It was the understatement of the week. When Reserve Bank governor Michelle Bullock popped the bubble of anticipation around an interest rate cut any time soon, she acknowledged "this is not what people want to hear". The idea of a rate cut before the end of the year "doesn't align" with the RBA board's current thinking. "I think it's hard …

The RBA says don't expect interest rate cuts for six months. Here's why it could be sooner
7 months, 2 weeks ago

The RBA says don't expect interest rate cuts for six months. Here's why it could be sooner

ABC  

Days ago, at the start of last week, there was talk of a Reserve Bank rate hike. So despite what the Reserve Bank governor said on Tuesday, here's why so many people expect interest rates will have to come down — possibly sooner than predicted. It was 3.6 per cent by March, then 3.8 per cent in June, and will …

RBA Governor delivers another blow to Aussies with a mortgage - and why you shouldn't expect rate cuts anytime soon
7 months, 2 weeks ago

RBA Governor delivers another blow to Aussies with a mortgage - and why you shouldn't expect rate cuts anytime soon

Daily Mail  

Australia's most powerful banker has aggressively scotched expectations of rate cuts by Christmas - despite global concerns about an American recession and weak local economic activity. In the media conference afterwards, Governor Michele Bullock stressed a rate cut wasn't happening soon - despite the Reserve Bank statement emphasing the risk of an economic slowdown and weaker gross domestic product 'Given …

Interest rate decision: RBA to make a rate call amid sharemarket bloodbath
7 months, 2 weeks ago

Interest rate decision: RBA to make a rate call amid sharemarket bloodbath

Daily Mail  

Australian home borrowers could be in line for super-sized rate cuts by Christmas after US recession fears wiped more than $150billion from the local share market in just two days. CommSec market analyst Steven Daghlian said a jump in the American jobless rate to 4.3 per cent, the highest level since October 2021, was spooking financial markets and dragging down …

RBA's Michelle Bullock says no cuts expected in next six months after leaving interest rates on hold
7 months, 2 weeks ago

RBA's Michelle Bullock says no cuts expected in next six months after leaving interest rates on hold

ABC  

The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent. "Financial markets have been volatile of late and the Australian dollar has depreciated," the RBA Board said in a statement. "In doing so, it will continue to pay close attention to developments in the global economy and financial markets, trends in domestic demand, and the …

The RBA has avoided the worst-case scenario with interest rates but economic uncertainty is looming
7 months, 2 weeks ago

The RBA has avoided the worst-case scenario with interest rates but economic uncertainty is looming

ABC  

That's the thing with silver linings. Here's how it happened Even with the carnage of the past few days, our market is only off 1.5 per cent since the start of the financial year, while some US indices are still in the black, giving an indication of just how fast stock markets have been running in recent weeks. Annual inflation …

When will interest rates go down? Here's what you need to know ahead of the RBA meeting
7 months, 2 weeks ago

When will interest rates go down? Here's what you need to know ahead of the RBA meeting

ABC  

Anyone with a home loan right now is likely to be feeling the pressure from the rising cost of living and will be hoping their interest rates will go down. But when the RBA changes the cash rate target, interest rates for mortgages don't automatically change. If the RBA decides to change the cash rate, ABC News will publish a …

UK interest rates: Bank of England announces interest rate decision after fall in inflation
9 months ago

UK interest rates: Bank of England announces interest rate decision after fall in inflation

The Independent  

✕ Close Related video: Parents financially supporting Gen Z highlights current economic woes Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read …

RBA's 'narrow path' gets narrower with an interest rate rise more likely than a cut
9 months ago

RBA's 'narrow path' gets narrower with an interest rate rise more likely than a cut

ABC  

You could see, hear and feel the pressure on Reserve Bank boss Michele Bullock at yesterday's press conference, held after an angst-filled decision to do nothing. Before being peppered with questions, the RBA governor prefaced the discussion by outlining the "complex" economic dilemma the bank's board confronts. "I think the RBA probably should have increased rates a little bit further, …

RBA keeps interest rate at 4.35 per cent, says rate rise could be on cards as governor says she's not expecting a recession in Australia
9 months ago

RBA keeps interest rate at 4.35 per cent, says rate rise could be on cards as governor says she's not expecting a recession in Australia

ABC  

The Reserve Bank has kept interest rates on hold at 4.35 per cent. "Inflation has fallen substantially since its peak in 2022, as higher interest rates have been working to bring aggregate demand and supply closer towards balance," the Board said. RBA governor warns the narrow path is 'getting a bit narrower,' but doesn't expect a recession The RBA board …

ANZ Bank delivers a major blow to Aussies with a mortgage in latest forecast: Here's what it means for you
9 months ago

ANZ Bank delivers a major blow to Aussies with a mortgage in latest forecast: Here's what it means for you

Daily Mail  

Australian home borrowers are now being told they will have to wait until next year to get any interest rate relief. ANZ broke ranks last week to push back its forecasted start date for rate cuts until February 2025 ANZ last week became the first major bank to forecast a delay in Australian rate cuts, after monthly inflation data showed …

RBA should now 'in theory' hike interest rates in June, but will it?
9 months, 3 weeks ago

RBA should now 'in theory' hike interest rates in June, but will it?

ABC  

Inflation is rising again, and that's a problem for both the government and the Reserve Bank. The annual rate of inflation has ticked up slightly in April to 3.6 per cent, from 3.5 per cent in March, but economists say it's enough to put even more pressure on the Reserve Bank. "At the moment consumers are the ones copping all …

Too early for Bank to cut interest rates on Thursday, economists predict
10 months, 1 week ago

Too early for Bank to cut interest rates on Thursday, economists predict

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The Bank of England looks …

The Reserve Bank's interest rate dilemma: Households are hurting but inflation remains stubbornly high
10 months, 1 week ago

The Reserve Bank's interest rate dilemma: Households are hurting but inflation remains stubbornly high

ABC  

Please make it stop. That's what Michele Bullock must say to herself after RBA board meeting days, when journalists conjure a dozen different ways to ask the same question — what's going to happen with interest rates? Over the past year, the inflation rate for discretionary goods and services has been within the RBA's 2-3 per cent target band, at …

RBA Financial Stability Review says Australia's banks safe even as up to 85,000 borrowers risk running out of cash
11 months, 3 weeks ago

RBA Financial Stability Review says Australia's banks safe even as up to 85,000 borrowers risk running out of cash

ABC  

In short: Around 5 per cent of mortgage borrowers currently spend more than they earn on essentials and their mortgage, and more than 2 per cent could run out of savings by the end of next year. Around 5 per cent of mortgage borrowers currently spend more than they earn on essentials and their mortgage, and more than 2 per …

RBA leaves door open to interest rate cuts and rises as unemployment risks rise
1 year ago

RBA leaves door open to interest rate cuts and rises as unemployment risks rise

ABC  

What a difference six weeks makes. Economists and traders expect the US Federal Reserve to lead off a global round of interest rate cuts, but recent economic data suggests the RBA should beat them to it. CBA's head of Australian economics Gareth Aird points out that the RBA board made seven references to "uncertainty" in its one-page post-meeting statement, up …

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band
1 year ago

RBA keeps interest rates on hold at 4.35pc but says 'it will be some time' before inflation within target band

ABC  

The Reserve Bank has left interest rates on hold amid signs that growth in the economy has dramatically slowed down following 13 interest rate rises since May 2022. The cash rate remains at 4.35 per cent, and while the central bank gave no clear indication of where it was headed next, saying it was "not ruling anything in or out", …

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable
1 year, 1 month ago

Economists predict RBA's next rates move will be a cut, but stage 3 tax cuts muddy the timetable

ABC  

In short: Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. Westpac's CEO has joined senior economists in predicting that the next interest rates move by the Reserve Bank will be a cut to the cash rate. The Reserve Bank board says "a …

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