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Workers Facing $14,000-a-Year Penalty if Australia Can’t Find Its Mojo
AUSTRALIA, JUL 23 – The Reserve Bank of Australia plans three cautious interest rate cuts by early 2026 due to steady inflation decline and a modest rise in unemployment, according to a Bloomberg survey of 40 economists.
- Reserve Bank of Australia economists forecast the cash rate will fall to 3.1% by the first quarter of 2026, with 40 economists in a Bloomberg survey providing the median estimate.
- During a recent board meeting, Michele Bullock reaffirmed the bank’s cautious stance, as minutes of the Jul 7 to 8 meeting indicated a third reduction would conflict with a 'cautious and gradual' easing approach.
- Although the unemployment rate increased to 4.3% in June, annual employment growth of 2% broadly matched the RBA forecasts.
- Investors now expect the RBA monetary policy board to delay a rate cut in August, while the board decided in a rare split to wait for more data.
- Next week, inflation data expected to show further cooling to around 2.7%, some analysts said, supporting the RBA's cautious outlook.
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RBA issues inflation warning ahead of next interest rates call
RBA Governor Michele Bullock has warned crucial inflation data may not come in as low as expected next week, casting some doubt over a potential interest rate cut in August.Economists were shocked earlier this month when the interest rate held firm, but a small jump in unemployment buoyed hopes of interest rate relief next month.However, such a call rests on crucial quarterly data released next week, and Bullock warned that figure could come in …
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Coverage Details
Total News Sources18
Leaning Left5Leaning Right4Center1Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
R 40%
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