Confidence Mounts Up Again In Advance Of RBA Rate Cut

  • November 03, 2020 11:58 AM AEDT
  • Team Kalkine
    Team Kalkine
    Team Kalkine
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The Reserve Bank of Australia shall be conducting its meeting on 3 November and it is anticipated that it might slash the cash rate again. While the decrease is expected to be a modest one, it could boost people’s confidence even more.

What is Consumer confidence?

Consumer confidence is an indicator to future household expenditure. Ahead of today’s meeting, the ANZ-Roy Morgan consumer confidence index soared for a ninth straight week, gaining 0.2% to reach 99.9 points, highest level since March when the Covid-19 pandemic had hit the economy.  

Meanwhile, economists all over the country have predicted that the RBA would cut the cash rate to 0.1 % from the already record low of 0.25%.

The same drop shall be considered for the bank’s target rate for its three-year bond yield and RBA’s term funding facility rate for banks.

 

 


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