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RBA predicts slow growth and limited interest rate cuts

RBA projects steady economic growth but no significant interest rate cuts, warning of ongoing cost-of-living challenges for Australians

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RBA projects steady economic growth but no significant interest rate cuts, warning of ongoing cost-of-living challenges for Australians

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In Short:
– RBA predicts persistent cost-of-living issues with low chances of interest rate cuts; economy growth expected at 2%.
– Unemployment rose to 4.5%, but is projected to remain steady; inflation is forecasted at 3.7% by next June.
RBA forecasts indicate ongoing cost-of-living struggles and a low likelihood of interest rate cuts. The Reserve Bank’s quarterly Statement on Monetary Policy (SMP) suggests Australia’s economy will grow at around 2% annually, primarily driven by housing investment.Banner

Unemployment rose to 4.5% last month but is expected to remain steady just below this level for the next two years. Some economists challenge this optimism. Productivity is improving more quickly than anticipated but remains relatively low by historical standards.

Inflation, meanwhile, is projected to stay persistently high despite solid growth and stable unemployment. The bank highlighted that last week’s inflation figures were significantly higher than expected, with the annual consumer price rise predicted to reach 3.7% by next June. With wage growth forecasted at only 3%, workers’ purchasing power is expected to decline.

No Rate Cuts

The RBA’s lack of interest rate cut forecasts have led markets to lower their expectations. The cash rate is predicted to bottom out at 3.3% next year, a revision from earlier projections of 2.9%. Many economists believe further cuts are unlikely, with a median expectation for no cuts until late next year.

RBA governor Michele Bullock acknowledged that maintaining the current rate is possible, noting that the RBA may not need to reduce rates significantly as other central banks have.

Competitive banking conditions offer some relief to borrowers, resulting in reduced spreads on variable-rate mortgages. Nonetheless, there are concerns that these spreads could increase as banks aim for higher profitability or as market risk premiums adjust. Australian variable mortgage rates may have reached their lowest point for the foreseeable future.


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Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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UK police seek former aides’ insights on Prince Andrew

UK police contact ex-protection officers of Prince Andrew amid misconduct investigation linked to Jeffrey Epstein allegations

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UK police contact ex-protection officers of Prince Andrew amid misconduct investigation linked to Jeffrey Epstein allegations

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In Short:
– Police seek former protection officers of Prince Andrew for info on alleged Epstein-related offences.
– Authorities consider removing Mountbatten-Windsor from royal succession after investigation conclusions.
British police are reaching out to former protection officers of Prince Andrew Mountbatten-Windsor following his recent arrest related to allegations of misconduct in a public office.
The police have urged anyone with information about potential sex offences connected to Jeffrey Epstein to come forward.Authorities are considering legislative measures to remove Mountbatten-Windsor from the royal succession line once the investigation concludes. Any changes would require consultation with other realms where King Charles is head of state.

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The recent allegations stem from claims that Mountbatten-Windsor shared confidential government documents with Epstein during his time as a trade envoy. The London Metropolitan Police is now identifying former officers who may assist in the ongoing investigation and has encouraged them to share any pertinent information.

Mountbatten-Windsor has denied wrongdoing in the Epstein matter.

In 2022, he settled a civil lawsuit filed in the U.S. by Virginia Giuffre, who accused him of sexual abuse. Reports indicated he paid her approximately £12 million, a claim he denies.

Police Investigation

London authorities are reassessing previous decisions not to pursue criminal investigations related to Epstein’s activities.

Recent document releases from the U.S. government have prompted police to explore allegations of human trafficking involving Epstein at UK airports.

Police have been actively searching Mountbatten-Windsor’s residences as part of their investigation. His arrest marks an unprecedented event in modern royal history, raising significant public interest and concern in various countries.


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Supreme Court strikes down Trump’s tariffs, plans 10% global levy

Trump vows new 10% global tariff after Supreme Court rules against his previous tariffs, calling the decision ‘deeply disappointing’

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Trump vows new 10% global tariff after Supreme Court rules against his previous tariffs, calling the decision ‘deeply disappointing’

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In Short:
– The U.S. Supreme Court has ruled that Trump lacks authority for tariffs without Congress support.
– Over 1,000 refund lawsuits from importers complicate the tariff issue, particularly for smaller businesses.
The U.S. Supreme Court has ruled against President Donald Trump’s tariff policies, stating he lacks the authority to impose tariffs without clear congressional support. Trump expressed disappointment and plans to implement a new 10% global tariff under different legal provisions.
Economists estimate more than $175 billion is at risk of refunds related to previously established tariffs, with potential litigations expected to last several years.Trump’s administration faces over 1,000 refund lawsuits from importers in the Court of International Trade, which ruled it can grant refunds to affected businesses. Each importer may need to pursue individual lawsuits, complicating the process, especially for smaller businesses that could find the financial burden prohibitive.

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Learning Resources Inc., a toy company led by Rick Woldenberg, has contested these tariffs, potentially qualifying for refunds. Woldenberg hopes the Supreme Court ruling will initiate reflection on necessary economic adjustments.

Economic Impact

Economists suggest consumers may not notice significant changes due to persistent tariffs on numerous products. U.S. Treasury estimates predict the deputy’s revenue will remain largely unchanged despite Trump’s new plans to increase tariffs through other channels, specifically under Sections 122 and 301 of the Trade Act.

Trump’s forthcoming address to Congress is expected to address the implications of this ruling, which notably undermines a fundamental aspect of his trade agenda.

Despite past assurances regarding reform, uncertainties remain for both businesses and consumers as the administration explores future tariff strategies.


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Bill Gates withdraws from India AI Impact Summit before keynote

Bill Gates withdraws from India’s AI Impact Summit amid renewed scrutiny over past ties to Jeffrey Epstein.

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Bill Gates withdraws from India’s AI Impact Summit amid renewed scrutiny over past ties to Jeffrey Epstein.

Bill Gates has withdrawn from India’s AI Impact Summit just hours before his keynote, as scrutiny grows over his past ties to Jeffrey Epstein following the release of US Justice Department emails.

The summit has faced criticism over organisational issues and traffic disruptions, drawing attention away from its mission. Despite the chaos, it has secured over $200 billion in investment commitments, including a major pledge from Reliance Industries.

Indian Prime Minister Narendra Modi used the platform to stress the importance of protecting children in the rapidly evolving world of AI.

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