RBA set to stay on hold? Grab rewards by guessing the closing price!
US cuts interest rates: Will Australia be next?
The US Federal Reserve has voted to lower interest rates by 0.05 percentage points in a sign that the global war on inflation is finally coming to an end.
And the move is expected to be welcome news for homeowners not only in the US, but also in Australia.
In its policy statement, the Fed said the decision reflected “greater confidence that inflation is moving sustainably toward 2 per cent”.
The Reserve Bank of Australia’s inflation target aims to keep consumer price inflation between 2 and 3 per cent.
It is currently 3.8 per cent, with the most significant price rises during the June quarter being housing (+1.1%), food and non-alcoholic beverages (+1.2%), clothing and footwear (+3.1%), and alcohol and tobacco (+1.5%), according to the Australian Bureau of Statistics.
Australia's national unemployment rate remained steady in August at 4.2 per cent. The number of employed people grew by 47,500, and the number of unemployed people declined by 10,500, in seasonally adjusted terms.
Reserve Bank officials have recently said Australia's labour market probably needs to "loosen" a bit further before the economy is back into better balance and inflation is under control.
Experts predicting February interest rate cut
All experts surveyed in Finder’s latest Cash Rate Survey believe the central bank will hold the cash rate at 4.35 per cent at its September meeting.
The majority of experts expect to see the first rate cut in the first three meetings of the next year, with 44 per cent predicting the first cut will come in February.
Grab rewards by guessing the closing price!
It is a month of uncertainty and adjustments for the AU stock market, as investors navigated a complex landscape of economic and policy changes.
$S&P/ASX 200 (.XJO.AU)$ investors will discover the Reserve Bank of Australia's next interest rate decision on Sept 24.
Let's take a moment to guess the closing price of the $S&P/ASX 200 (.XJO.AU)$ on 24 Sept? 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 range of ASX200's closing price at 4 PM AEST 24 Sept.
(e.g., If 50 mooers make a correct guess, each of them will get 40 points.)
Note：
Vote will close at 2:00 PM AEST 24 Sept.
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.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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dynamic-stacker : caution is important. slow and steady, easier to predict market sentimentb
152305329 :![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
104323807 : Likely in the same scenario as BoE, wont be cutting today as inflation remains sticky in Australia
Salmonish : gz to the 7 that got this correct!