RBA rate decision: Grab rewards by guessing the closing price!
Tomorrow, at 2:30pm AEDT, investors will learn whether the Reserve Bank of Australia (RBA) lowers, lifts or keeps the official cash rate on hold, it's shaping up to be a big day for the $S&P/ASX 200(.XJO.AU$ on Tuesday.
In its ongoing battle to get the inflation genie securely back in its bottle, the RBA has hiked interest rates 13 times since it began the current tightening cycle back in May 2022. While that battle has been effective at getting inflation down from the near 8% levels witnessed at the end of 2022, prices are still rising faster than the RBA's 2% to 3% target range.
RBA expected to hold cash rate in May
The Finder RBA Cash Rate Survey found all 36 experts and economists expect RBA to hold at 4.35pc in May, with head of consumer research Graham Cooke warning "the inflation rate is the one number the RBA is most influenced by, so it's unlikely we'll see a rate cut until at least December, if not later".
RBA interest rate rise warning as inflation persists
A former RBA governor has made a grim prediction about where interest rates could go. It's been on hold at 4.35 per cent since November and homeowners have winced through 13 rate rises since May 2022.
He thought the fight against inflation "isn't done" yet and the RBA might use an interest rate rise to push it down.
Guess the Closing Price
With terms like "sticky" and "stubborn" inflation now dominating headlines, could ASX 200 investors see the RBA hike interest rates tomorrow? How will the market react to the RBA rate decision on the day?
Vote your answer to participate!
Rewards
An equal share of 2,000 points: For mooers who correctly guess the price trends of $S&P/ASX 200(.XJO.AU$ at 16:00 PM AEST May 7.
(e.g., If 50 mooers make a correct guess, each of them will get 40 points.)
Note
The vote will close at 15:00 PM AEST May 7.
Rewards will be distributed within 5-7 working days after the result's announcement.
Rewards can be used to exchange gifts at the Rewards Club (moomoo app>> Me>> Redeem Points).
The selection is based on post quality, originality, and user engagement.
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mr_cashcow :
Feiniao : no rate cuts but data pointing tightening bias as well as sticky inflation. market sentiment to be cautious on the day, pending USA future/closing for Monday
151682457 : It made a loud noise
151613260 : The west wind blows, the battle drums blow
Svetlana Polishuk :
Moomoo AU OP : The ASX 200 Index (ASX: XJO) is soaring higher on the heels of interest rate announcement from the RBA. Congrats to the winners!