CBA's Head of Australian Economics Gareth Aird says the Reserve Bank of Australia has “changed its tune” to now be “very much focused” on bringing down inflation levels as quickly as possible.
33 minutes ago
CBA’s Head of Australian Economics Gareth Aird says the Reserve Bank of Australia has “changed its tune” to now be “very much focused” on bringing down inflation levels as quickly as possible. “Which means they’re likely to deliver bigger rate rises as we go through this year, we’ll think they’ll do another 50 basis points at the June board meeting,” he told Sky News Business Editor Ross Greenwood.
“So, we’re thinking now that the cash rate will end the year at about 2.1 per cent, between 2.1 per cent and 2.35 per cent, depending on just how aggressively they’d go, but that has a big impact on the consumer and it will have a big impact on GDP.” He said because the Commonwealth Bank of Australia think the cash rate increase is going to be “so significant”, they’ve downgraded their assessment on the outlook for growth because households won’t have enough money to spend.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBA is ‘pretty fair dinkum’ about slowing inflation
Read more »
‘Challenge’ for Labor will be ‘how it will contain its spending’
Read more »
‘Crucial’ the Conservative Party ‘pulls itself together’
Read more »
The Queen ‘appreciates’ the ‘idea of people learning first aid’: Val Dempsey
Read more »
Albanese ‘determined’ to make Australia ‘even more politically correct’
Read more »