Sorry i missed September, It's that time agai.
What do you think it's going to be for the RBA's announcement for 03/10/2023
Get your guesses in by 02/10/2023
Poll: October's RBA Announcement Prediction
whitepuma on 26/09/2023 - 11:52
Last edited 27/09/2023 - 09:54
Last edited 27/09/2023 - 09:54
Poll Options
- 41RBA cash rate will go up
- 101RBA cash rate won't move
- 5RBA cash rate will go down
Comments
why inflation isn't rising?
the rate of change of inflation isn't going up, but that doesn't mean the costs of good and service aren't, big difference.
Inflation isn't rising but it's still higher than what the RBA is targeting; aka inflation is still higher than targeted. If they deem the reduction in CPI is enough then they won't raise rates but strictly speaking if the rate is still higher than the 2-3% target they should be contemplating raising rates; it's just a matter of how aggressive the RBA wants to be to reduce CPI down to their target range.
The issue is that it is supply triggered inflation, not demand derived. This means that it comes from high oil prices, energy costs and supply chain issues - Not based on how many TVs I buy. Raising interest rates will devastate the economy but might not fix inflation.
@WreckTangle: They actually debunked the supply chain and oil price argument.
It was largely company profits aka corporate greed.
- Inflation is still almost double the 2-3% band that the RBA is targetting
- Due to Australian interest rates lagging international interest rate rises our dollar is getting hammered, thus exporters are loving it whereas it's us consumers that are getting hammered with secondary cost of living increases. You need a balance of higher rates to stabilise the exchange rate, Russia's doing it as we speak to stave off excessive inflation. Never before have i seen the Singapore dollar so much stronger than the AUD.
@JIMB0 has a point, the RBA is literally a board of businesspeople who want nothing more than cheap money. Not only is it in their best interest to ensure the cheap money keeps pumping along to keep the housing ponzi scheme going but it also ensures there's enough liquidity in the market to keep their business profits sky high.
The housing bubble was created by them and now they're acting like they're trying to look after homeowners by minimising increasing rates whilst they're actually doing the opposite. They really have trapped themselves this time. Stop increasing rates and watch as the exchange rate gets decimated or continue increasing rates and watch house prices plateau. I know which one i'd prefer.
rba have linked inflation with ps5 prices
ps5 have recently falled below 650. we are experiencing deflation people! rapid too
interest rates will fall to 0.01
New girl on the block, rates staying as they are, even if it breaks the economy.
If it does she will play the OPTUS card
Does it matter what we think? The RBA board will make their decision based on the information provided to them.
We only get to see that information and decision after the fact.This isn't a vote being sent to the RBA, this is just a poll to gauge ozbargainers opinions
Relax.
A pointless poll?
Pointless in the sense that it has no action to follow: yes
Pointless in the sense that gives you an interesting metric on peoples opinion: noJust because you don't find an observation interesting, doesn't mean no other people do.
There are other kinds of polls on Ozbargain?
The RBA board will make their decision based on their best interests
There fixed it
Fair call, but their decision based on that would still probably not align with any poll on here.
The market expects it to remain on hold.
https://www.asx.com.au/markets/trade-our-derivatives-market/…
24 days late to "get your guesses in by 02/09/2023"
My bad, fixed it, baby brain
10%
WE CAN DO IT !!!
Some of the increases could of been avoided if only they'd increased rates earlier to support the Australian dollar.
aaaaannd its on hold
With the latest CPI numbers more people now expecting an increase in November
Is there an RBA Nov rate decision poll?
There will be, but i like to put it up 1 week before the decision is made
I see, makes sense.
Surely the RBA will need hike now, inflation still persistently up and AUD is getting decimated.
I'm not complaining though, the weak AUD is helping my cryptocurrency portfolio.
IMO, i don't think we are going to see another raise this year….it's too close to xmas. Any rate increases at this time of year is going to impact peoples xmas spending. Government earns big money on xmas spending.
@whitepuma: Xmas spending is already impact, unlikely people will be spending much with everything costing so much more. Even though I can afford it, I'm voting with my wallet, I'm not paying more than $5 for coffee or other non-essential items which I deem to be "too expensive", I will just go without it, its insane.
@techlead: i agree it's already impacted…but any more increases this close to xmas will only impact it more (and will have a larger effect than if the increase happened earlier)
@whitepuma: The issue is also because companies are jacking up their prices to preserve their margins, consumers need to vote with their wallets. I certain am doing that.
@whitepuma: Lucky the RBA is meant to make decisions independent of what the government thinks is best for political reasons
It should go up but they'll play chicken and leave it as is.