The Reserve Bank of Australia cutting interest rates in February is 'dangerous', a leading economist has declared as Aussie mortgage holders desperately await some much-needed relief.
The Reserve Bank of Australia cutting interest rates in February is"dangerous", a leading economist has declared as Aussie mortgage holders desperately await some much-needed relief.The Reserve Bank of Australia cutting interest rates in February is"dangerous", a leading economist has declared as Aussie mortgage holders desperately await some much-needed relief.This is a core piece of data the RBA will examine when it next sets the cash rate.
A leading economist has argued the RBA cutting rates next week is"dangerous". Picture: NCA NewsWire/Joel Carrett “I think cutting rates now is dangerous and … the question is what are we going to get out of it?” he said. Labor’s Commonwealth Energy Bill Relief Fund rebates, alongside state subsidies in Western Australia, Queensland and Tasmania, drove a 9.9 per cent drop over the quarter and a 25.2 per cent drop over the space of a year.The Australian Bureau of Statistics, in its most recent inflation drop, excluded electricity prices from the trimmed mean figure.
He doubted that inflation was “anywhere near” the RBA’s desired 2-3 per cent range and noted that price increases were “at best” in the top of this band.Mr Hogan continued to warn that the RBA cutting interest rates before inflation had settled well into its ideal range could backfire for the central bank if it had to the hike the cash rate again.“So the RBA goes and cuts early and then inflation doesn’t go away and this cost of living crisis drags on. People will understand that.
ABS Australian Bureau Of Statistics Consumer Price Index Judo Bank Inflation CPI Warren Hogan Reserve Bank Of Australia
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.
Macquarie Bank trims fixed rates weeks before RBA’s February meeting7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Has the RBA got any choice but to cut interest rates in February?The inflation figures give the Reserve Bank a green light to take its foot off the economic brakes. If it chooses not to, it will have a difficult time explaining why.
Read more »
Interest rates: NAB joins rest of big four banks predicting February cut by RBA7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
‘Very substantial progress’: Inflation falls, opening door for RBA interest rate cuts in February7NEWS brings you the latest local news from Australia and around the world. Stay up to date with all of the breaking sport, politics, entertainment, finance, weather and business headlines. Today's news, live updates & all the latest breaking stories from 7NEWS.
Read more »
Economists Unconvinced of RBA Interest Rate Cut in FebruaryTwo leading economists remain skeptical about the Reserve Bank of Australia's (RBA) decision to cut interest rates in February, despite recent inflation data prompting many financial institutions to revise their forecasts. While several major players predict a February rate cut, Warren Hogan of Judo Bank and Brendan Rynne of KPMG argue that government subsidies are artificially suppressing inflation and that the RBA should hold off on any reductions.
Read more »
RBA Rate Cut in February: Economists Doubt as Inflation DropsDespite recent inflation figures sparking hope for a rate cut, economists remain skeptical about the Reserve Bank of Australia (RBA) taking action in February. Judo Bank chief economic adviser Warren Hogan points to the US Federal Reserve's decision to hold rates steady and the upcoming election campaign as reasons for caution.
Read more »