Part 8/9:
Economic Outlook: The Prospect of Rate Cuts
Finally, Van Onselen turned to current monetary policy developments. With recent inflation data showing a decline, he was optimistic about the Reserve Bank of Australia (RBA) cutting interest rates in their upcoming meeting.
He emphasized that both the Q2 Consumer Price Index (CPI) and June labour force data were benign, providing the necessary conditions for a rate reduction. Van Onselen confidently predicted that a rate cut is "virtually guaranteed," a move that would be welcomed by mortgage holders and consumers alike.