US EditionInterest Rate Cut on the Cards
AUSTRALIA, JUL 6 – The Reserve Bank plans to cut rates by 0.25 percentage points to 3.6%, with forecasts of up to four cuts by early next year to ease borrowing costs for homeowners.
- The Reserve Bank of Australia is scheduled to announce a quarter-point interest rate cut to 3.6 percent on Tuesday at 2:30pm AEST.
- This cut follows May’s lower inflation numbers, ongoing economic slowing, and global uncertainties, though some economists suggest waiting for June quarter CPI data.
- The reduction will be the third since the start of the year amid cautious households focused on saving and muted retail sales despite ongoing housing price rises.
- Canstar estimates banks passing the cut fully could lower variable mortgage rates to around 5.55 percent, saving owner-occupiers about $76 monthly on a $500,000 loan.
- Economists warn the RBA faces a balancing act to support spending without further inflating housing prices, as property values have recently risen over 2 percent in major cities.
Insights by Ground AI
Does this summary seem wrong?
12 Articles
12 Articles
All
Left
5
Center
1
Right
1
RBA rate cut on the horizon: What it could mean for Australian homeowners
Economists tip the Reserve Bank will cut the cash rate to 3.6 per cent — a move expected to ease mortgage repayments but keep household spending subdued, with further cuts still possible later this financial year.
·Sydney, Australia
Read Full Article
The echoes of the surprising, although according to economists deserved, interest rate cut in July are not dying down. Another statement has appeared suggesting a continuation of the reduction in the cost of money. However, Iwona Duda from the Monetary Policy Council suggested that there may be room for only one more such move this year.
Coverage Details
Total News Sources12
Leaning Left5Leaning Right1Center1Last UpdatedBias Distribution71% Left
Bias Distribution
- 71% of the sources lean Left
71% Left
L 71%
14%
14%
Factuality
To view factuality data please Upgrade to Premium
