RBA ‘changed its forecast’ for Australia’s ‘future’ economy and interest rates
Sky News Business Editor Ross Greenwood says the Reserve Bank “changed its forecast” for where the Australian economy and interest rates will go in the future.
The Reserve Bank of Australia has kept the official cash rate on hold at 4.35 per cent in August.
“After the announcement … Michele Bullock was at pains and several times said … we do not believe there will be any interest rate cuts this year, and indeed we don’t see it in the foreseeable future,” Mr Greenwood told Sky News host Peta Credlin.
“So almost pushing it out at least six months.
“Now the Reserve Bank also changed its forecast for where it believes the economy and potentially interest rates will go into the future.
“Effectively it’s saying now that the Australian economy will weaken, but then will start to become more boosted during the middle of next year.”
Credit to : Sky News Australia
