Economy

The major bank has made its prediction as to what the cash rate will drop to following predicted cuts.

A breakdown of the business landscape across Australia has revealed record-high insolvencies, with things expected to get worse as we enter 2025.

Although spending increased during Black Friday sales, higher interest rates are still dampening a large lift in household spending.

The unemployment rate has dropped through November, showing some signs of stabilisation. Despite this, some believe we’re far from normal.

While the result of the December monetary policy meeting was no surprise, analysts have noted the increased confidence in the RBA’s rhetoric.

Recent data has shown that stunted business turnover is prevalent across the majority of recorded industries, highlighting some struggles in bringing in revenue.

The RBA governor has remained resolute in the board’s monetary policy decisions thus far, maintaining that the economy is still on the path towards the inflation target range.

The Reserve Bank has made the decision to hold the official cash rate to close out 2024.

The housing market may finally be seeing some easing of pressure as yearly inflation saw minimal growth.

Economists expect today’s (27 November) monthly CPI print to return still within the RBA’s target range of 2–3 per cent.