One of the nation's biggest banks believes the Reserve Bank of Australia will slice official interest rates to 1 per cent within months and then consider other measures to kick-start a faltering economy.in April and poor wages figures, National Australia Bank economists said on Friday they had changed their view on how quickly the RBA would cut the cash rate.
But NAB chief economist Alan Oster said the jobs figures and other key economic indicators now suggested the RBA would move at its next meeting on June 4.
Mr Oster said there was also a real possibility the RBA could move early next year to pump more stimulus into the economy."For example, it may consider action that could place downward pressure on the exchange rate or it may recommend that [banking regulator] APRA reduces the serviceability buffer on residential mortgages," he said.given both sides of politics remain committed to budget surpluses.
Source: Financial Digest (financialdigest.net)
swrighteconomy Reserve Bank sinking the dollar. Hurting working Australians.
swrighteconomy What does NAB believe it will then slice off its rates?
swrighteconomy And my local meth dealer says he's about to push out a way cheaper product because the price of his ingredients has fallen. Are we really going to trust the word of a proven criminal?
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Unemployment climbs to 5.2pc, putting RBA under more pressure to cut ratesIt is certainly not the result the Reserve Bank was looking for, with unemployment edging up for the second consecutive month and the number of jobless Australians pushing past 700,000. the RBA can't do shit; they are redundant in terms of managing the economy; interest rate reductions are meaningless at these levels; the fact we're struggling at these levels says it all; credit cycle is dead - debt cycle at all time highs - prepare to dive!!! I'm now waiting for ScottMorrisonMP trying to spin this increase in unemployment by using his meaningless slogan: 'See look, more people are 'having a go'!'. If I were a betting man I would put money on it! auspol australiavotes2019
Source: abcnews - 🏆 5. / 83 Read more »
RBA expected to cut interest rates twice this yearThree of Australia's smallest banks have already slashed their rates. 9News
Source: 9NewsAUS - 🏆 10. / 72 Read more »
There's a $7.5b reason why the RBA is stalling on rate cutsThe Commonwealth Bank has an answer to the riddle of why the Reserve Bank is baulking at cutting rates. It's something you'll see in your bank account soon. ...governmental helicopter cash only goes so far; Australians have the second highest per capita personal debt in the world on a tightening credit cycle; we're due a wake up call and the RBA hasn't got a single round of ammo remaining...we await...
Source: smh - 🏆 6. / 80 Read more »
Who are the biggest beneficiaries of the RBA and Scott Morrison's first home buyers' bounty?Having backed themselves into a corner, our leaders are now preparing to jettison almost every rule in the economics textbooks. Benefitting more of the foreign white European-Anglo-Christian migrant heritage community of Australians since first contact? What about the 1st home buyers from a decade ago who were rushed by the government, told to 'buy now or you'll never get in the market', who as such bought an overvalued house, whose interest rates skyrocketed then house value plunged & had to sell overpriced house at a loss? Didn’t we just go through the whole commission business into lending laws I understand ScottMorrisonMP was dead set against it. For someone who boasts himself as good for the economy this is just madness! It is cruel and selfish to play with ppl’s hopes all to “stay in power”
Source: abcnews - 🏆 5. / 83 Read more »
Frydenberg plays down RBA growth outlookTreasurer Josh Frydenberg has played down the differences between the Reserve Bank's and his budgets forecasts. The reserve bank has encouraged The Housing Fiasco collapse along with the 4 crooked banks😯 It could have slowed this housing obsession down years ago with higher rates😢 who to believe lying politicians or banks The liar has no choice.. bed made
Source: SBSNews - 🏆 3. / 89 Read more »
Business conditions tumble with job prospects hit hard as economy coolsThe jobs market appears to be deteriorating, according to the influential NAB business survey, putting further pressure on the Reserve Bank, which is banking on unemployment falling from here. Australian Governments have turned Australia into a quarry and Contiki tour, China's screwed (Trump), jigs up, hope ya gotta Plan B?
Source: abcnews - 🏆 5. / 83 Read more »
Banker jailed after funnelling $640k to self, friendA Victorian banker who defrauded his employer, NAB, of more than $640,000 has been jailed for eight months, with an additional 28-month suspended sentence.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Jobless rate set to rise, testing the RBA's rates resolveThe RBA has drawn a line in the sand on the economy as it holds firm against cutting interest rates. Whether it gets swept away by a rising tide of unemployment and weak wages may be known as early as this week. What nonsense - Scott Morrison says the Economy is working wonderfully.
Source: abcnews - 🏆 5. / 83 Read more »
The final dash: Who is promising what and why?In the final days before a federal election, two things are certain. First, things get personal. Then, election promises ratchet up in an effort to nab those last-minute undecided votes. Only one choice because Australia has outgrown the liberal party
Source: theage - 🏆 8. / 77 Read more »
There's a $7.5b reason why the RBA is stalling on rate cutsThe Commonwealth Bank has an answer to the riddle of why the Reserve Bank is baulking at cutting rates. It's something you'll see in your bank account soon. ...governmental helicopter cash only goes so far; Australians have the second highest per capita personal debt in the world on a tightening credit cycle; we're due a wake up call and the RBA hasn't got a single round of ammo remaining...we await...
Source: smh - 🏆 6. / 80 Read more »
RBA expected to cut interest rates twice this yearThree of Australia's smallest banks have already slashed their rates. 9News
Source: 9NewsAUS - 🏆 10. / 72 Read more »