🇦🇺 Today’s RBA meeting: Why Australian Homeowners are still hoping for rate cuts, while markets have already written them off 🇦🇺
Did you know that Australians dedicate nearly 17% of their income to servicing debt – one of the highest rates in the world?
📉 Today, the Reserve Bank of Australia (RBA) is expected* to stick to the sidelines for their seventh consecutive meeting, with the central bank keeping the cash rate at 4.35%.
Below, some more context on why Australian borrowers are still hoping for a different outcome.
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*As of yesterday Nov 4th, the ASX 30 Day Interbank Cash Rate Futures (November 2024 contract) was trading at 95.67. This implies only a 5% chance of a rate cut to 4.10% at the today’s RBA Board meeting.
