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RBA Cash Rate Announcement: Nov 2023

Hello and welcome to the November 2023 Economic and RBA update!

Before we dive into the numbers, let’s address a sobering issue – the heightened geopolitical tensions and the Middle East conflict. This isn’t just about human suffering; it’s impacting the global economy.

All this uncertainty is affecting global confidence, investments, and trade, and it’s causing economic slowdowns. We hope for peaceful resolutions in the Middle East and Ukraine, but for now,  the world economy is shaky. With geopolitical tensions, inflation worries, and rising debt costs, both stock and bond markets are experiencing turbulence. Stocks have dropped significantly, and there’s more potential downside if these issues persist. As we unpack this month’s RBA update, it’s important to acknowledge the economic impact of these global events.

Now, let’s get into this month’s data! This month, our focus is on three key points:

  • RBA’s November Meeting: We’re closely watching the Reserve Bank of Australia’s upcoming meeting. The big question is whether they’ll raise the cash rate for the 13th time in this cycle, given September’s inflation data.
  • Inflation Concerns: We’ll also delve into the topic of inflation.
  • Property Market Update: Lastly, we’ll share the latest info on the property market.

 

Did you know that with all the rate rises this year, Banks are offering great special deals to win your business? Are you getting the best lending deal? If you haven’t reviewed your loan for some time, make sure to reach out to your Mortgage Broker and arrange one today!

Don’t have one and looking for an investment savvy Mortgage Broker to help with your financing needs? Check out our award-winning sister company, Empower Wealth!

Just in case you’re wondering, Moorr is our online platform that helps people get on top of their money habits and Empower Wealth is our advisory business that works directly with those who want qualified professionals to help them with their financial needs. As a valued Moorr member, if you’d like to have our expert team review your current mortgage, simply visit Empower Wealth’s Mortgage Broking page today or fill in the form below.

 

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