Hey folks, welcome to the November Economic and RBA update. This time around, Ben got his sight set on a few key things:
- RBA’s November Board Meeting: We’ve all been eagerly waiting to see if the RBA is going to hike the cash rate again. This could mark the 13th time they’ve done it in this upward cycle. Find out more in this episode!
- Inflation Rant: Hold onto your hats because Ben got a bit of a rant brewing about inflation.
- Property Market Scoop: Of course, last but not least, the most popular part of Ben’s RBA updates…. the latest data on the property market!
But before we dive into all that, we can’t ignore the elephant in the room – the heightened geo-political tensions and the Middle East conflict. This isn’t just a humanitarian crisis; it’s also making waves in the global economy.
All this uncertainty and instability is putting a damper on global economic confidence, sentiment, and investment. Plus, it’s affecting oil supply, prices, and trade, which is basically throwing a wrench into the works of the world economy.
Let’s cross our fingers for some speedy resolutions in the Middle East and Ukraine to ease these troubles. But for now, the world is feeling jittery. With all this geopolitical drama, the inflation scare, and the rising cost of debt, both the stock and bond markets are rollercoaster rides. Stock markets are taking a double-digit dip, and there’s more downside risk ahead if these issues continue to weigh on developed economies.
We know these aren’t uplifting news to share, but it’s important to acknowledge the economic consequences tied to these global events.
And folks, if you’re feeling the pinch with those rate hikes and worried about your cashflow in the next few months, we’ve got a couple of handy resources for you:
A) MoneySTRETCH Tool on Moorr:
This cool tool lets you play around with different scenarios and see how they impact your cashflow and savings right away. For example, you can check out what a 2% bump in your loan might do to your cashflow and figure out how long your current spending can keep going. And the best bit is… This tool is free! Just create your free account on Moorr and away you go 😉.
B) Free Finance Checkup with our Award-Winning Crew:
If your loan payments are eating up a big chunk of your budget and you haven’t looked into it lately, it might be time to chat with your broker or banker.
Don’t have a broker? Our sister company, Empower Wealth recently snagged the Australian Brokerage of the Year award from the Australian Mortgage Awards, and they would be thrilled to assist you! The initial consultation is free and there’s no obligation to engage after that as well so if you’re keen, please don’t hesitate to learn more about them below.
Alright, what are you waiting for? Let’s jump into the data for this month!