1 MIN READCBA ups house price growth expectations but fails to meet Westpac’s optimism
The Commonwealth Bank has revised its property price forecast for 2021 on the back of strong growth in February and Marc...
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In a move which is likely to shock economists and investors alike, the Reserve Bank of Australia has announced a change to the official cash rate.
Despite 16 of Australia’s leading economists unanimously agreeing in a finder.com.au survey that the cash rate would remain on hold today at 2.5 per cent, the RBA has decided to x, taking the cash rate to y.
A majority of the surveyed experts believe the public’s reaction to the severe federal Budget cuts would prompt the Bank to delay a change in the cash rate.
In addition, nine of the economists and experts predicted rates would not rise until 2015, with five predicting a hike might come later this year.
Before the announcement, Aussie’s John Symond said the current economic climate was still tenuous and it was unlikely rates were going to change today.
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