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RBA likely to pause cash rate hikes following cooler inflation data

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11 months ago

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The Reserve Bank of Australia shocked many by raising the cash rate to 4.1 per cent earlier in June. Mortgage holders await to see if they are done for the year

 
Consumer inflation in Australia slowed to a 13-month low in May due to a sharp decline in fuel prices, as well as a measure of core inflation in a sign interest rates might not need to rise in July.

The Australian Bureau of Statistics reported recently that its monthly consumer price index (CPI) rose 5.6 per cent in the year to May, the smallest increase in a year.

That was down from 6.8 per cent the previous month and well below market forecasts of 6.1 per cent.

“A hold [on interest rate rises] is increasing in probability at the moment,” said Chris Ford from Compare the Market, however said that many in Australia’s banking sector are expecting two further hikes by year’s end.

The RBA made a surprising rate hike of 25 basis points earlier in June, bringing the cash rate to 4.1 per cent, the highest level since 2012.

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Why the meme-stock frenzy is unlikely to repeat

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5 days ago

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May 14, 2024

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GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

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Why are airlines after the Biden Administration?

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5 days ago

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May 14, 2024

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Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

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The mounting pressure on Government spends

Published

6 days ago

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May 13, 2024

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Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending

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