Australian interest rates

By Gareth Aird, head of Australian economics at CBA: Key Points: The RBA will raise the cash rate at the August Board meeting.

Yesterday’s CPI has soothed market concerns about Australian inflation.

On Friday, Westpac joined ANZ in raising its official cash rate (OCR) forecast to 3.35% by February 2023. This means Westpac expects the Reserve Bank of Australia (RBA) to hike the OCR by another 2.0% over the next seven months.

A terrific piece today from Chris Joye of Coolabah Capital destroying the Lunatic RBA.

The Reserve Bank of Australia’s (RBA) aggressive monetary policy tightening of recent months is likely to see the nation’s quarterly mortgage interest bill rise to a record $19 billion by the end of 2022.

By Gareth Aird, head of Australian economics at CBA: Key Points: We expect the headline CPI to increase by 1.9% in Q2 22 (6.2%/yr). The trimmed mean CPI on our forecasts will rise by 1.3% (4.6%/yr).

We all thought during the last election campaign that Anthony Albanese was playing a clever small target strategy to unseat a deranged Morrison Government.

Tuesday’s speech by RBA assistant governor Michele Bullock concluded that Australian households are well positioned for rising interest rates: As a whole households are in a fairly good position.

The RBA’s Michele Bullock yesterday said: In the title of this speech I posed the question ‘How are households placed for interest rate increases?’ There are a number of ways to come at this question – aggregate data, disaggregated data and scenarios.

Treasurer Jim Chalmers will today release the broad terms of reference for the first independent review of the Reserve Bank of Australia (RBA) in three decades.

ANZ Bank yesterday dramatically lifted its forecast for Australia’s official cash rate (OCR) to 3.35% by November 2022.

Michele Bullock, Deputy Governor at the Reserve Bank of Australia (RBA), has just delivered a speech playing down the risks of aggressive rate hikes on Aussie mortgage holders.

Pandemic inflation has topped and is about to crash.

Readers will be familiar with BofA strategist Michael Hartnett who has done a great job of forecasting the current market meltdown.