RBA Cash Rate: 4.35% · 1AUD = 0.67 USD · Inflation: 4.1%  
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Home Loan Variable: 5.88% (6.07%*) • Home Loan Fixed: 5.49% (6.26%*) • Fixed: 5.49% (6.26%*) • Variable: 5.88% (6.07%*) • Investment IO: 5.79% (6.41%*) • Investment PI: 5.69% (6.48%*)

2024 so far .. when will interest rates drop?

2024 seems to have been ‘highlighted’ by continuing discussions on interest rates, particularly when will they start to ease. The new RBA Chief is holding strong the Board’s desire for inflation to return to its target range of 2%-3% before any move.

The recent concern that there may even be one more increase seems to have dissipated, thankfully. The September quarter CPI just released is heading the right way. However, the likely impact of the removal of current subsidies will be key to when the RBA feels ready to start to ease.

Increased stock generated from falling investor demand isn’t getting into the hands of first-time buyers as lending restrictions are still very conservative. Recent discussions on reviewing servicing buffers have put a spotlight on this area and we could see some changes in the new year (if not earlier) that will assist.

Last week’s ANZ-Roy Morgan Consumer Confidence Index shows that confidence is creeping back. A key graph reveals that more consumers are delaying buying major household items, and that should help slow inflation, along with discretionary spending consistently falling.

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