As we welcome in a new financial year, we welcome another not-so-surprising change. The Reserve Bank of Australia has once again lifted the cash rate by 50 basis points, bringing the official rate to 1.85%. This marks the most aggressive rate rise in a 3-month period since 1994 (If you’re wondering, back then the RBA lifted the cash rate by 200 basis points)
Ben breaks down what this hike means in the grand scheme of things (is it all bad?), plus…
Here are our three other key themes for this month’s economic update:
Is the world’s biggest economy in a recession already? The manufactured economic slowdown is now in full swing with another rate rise this month Unemployment surprises on the upside, beating all forecasts for July
And here are all the time stamps!
0:00 – Welcome back!
World Economic Update Segment:
0:36 – United States: Inflation
2:03 – United States: GDP & Recession Debate
3:40 – United States: Interest Rates
3:58 – United Stated: Overall Economic Update I
7:55 – United Stated: Housing Market
10:32 – United Stated: Overall Economic Update II
11:33 – China: GDP
12:25 – China: Inflation & Producer Price Index
14:02 – China: Overall Economic Outlook
14:45 – Europe: ECB Interest Rates
18:35 – Europe: Overall Economy Outlook
Australian Economy Segment
20:05 – The Cash Rate Announcement!
20:50 – What’s the $64 Million Dollar Question?
21:12 – What does this mean for future cash rates?
23:32 – CPI June 2022 Quarter Data
26:00 – Jobs & Unemployment
27:53 – Consumer Confidence & Sentiment
31:46 – Retail Sales
33:30 – Business Confidence & Conditions
Australian Property Market Update
35:03 – General Consensus
35:40 – CoreLogic’s Home Value Index – 1 August 2022
37:55 – Rental Market
38:37 – Overall Property Outlook
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