RBA Feb 2024 | Shifting Tides: Exploring the Global Influence on Australia’s Economy in 2024

Welcome to the first RBA Rate Release for 2024 at Empower Wealth! This year, we’re thrilled to announce a dynamic addition to our team – the insightful Evan Lucas, joining our host Ben Kingsley. Together, they promise to delve deeper into the economic landscape, providing you with an in-depth analysis that goes beyond the surface.

Evan Lucas, an independent expert economist and author of the best-selling book “Mind Over Money: Why understanding your money behaviour will improve your financial freedom,” brings a wealth of experience as a market strategist and a passionate investor. Buckle up as they navigate the intricate currents shaping Australia’s economic future!

In this month’s RBA Cash Rate Announcement, Ben and Evan explore key topics crucial to understanding our economic landscape. This includes:

• The Global Giant – Unpacking the US Economy: Dive into the intricacies of the US economy and how its financial heartbeat resonates down under. The duo dissects the latest GDP growth rates and Federal Reserve decisions, unraveling the global ripples reaching our shores.
• Global and Domestic Inflation: Is inflation still a lingering concern, or has it become a relic of the past? Join us as we examine the current state of inflation, separating myth from reality.
• Employment Data – Reading Between the Lines: Peel back the layers of employment data, deciphering the story behind the fluctuating payrolls. Discover why it’s essential to look beyond the surface and to also consider Underutilisation (RHS) for a comprehensive understanding.
• Australian Economic Outlook and Predictions: Arm yourself with knowledge as Ben and Evan chart a course through Australia’s economic predictions. Gain insights into potential interest rate storms ahead and determine whether calm seas or turbulent waters await us in 2024.

Will this year be a tale of two ends? Watch this update where we unravel International Market Wrap and delve into the Property Trends shaping the Australian landscape in 2024. Stay informed, stay empowered.

Now, let’s delve into this month’s data. Here are all the time stamps!

World Economic Update Segment:

00:00 – Introduction
02:15 – US GDP Data
03:40 – Inflation Data in the US
07:24 – US Federal Reserve and Interest Rates
10:39 – US Employment Data
15:01 – US Consumer Confidence and Sentiment
20:21 – US Retail Sales

24:37 – China GDP Data
27:29 – China Inflation Data
30:30 – China Interest Rates and Unemployment
32:17 – China Consumer Sentiment
33:36 – Evergrande and the Chinese Property Sector

35:46 – Eurozone GDP Data
41:31 – Eurozone Inflation Data
41:01 – Eurozone Interest Rates and Unemployment
43:54 – Eurozone Consumer Sentiment

Australian Economy Segment

45:37 – Australian Inflation Data
50:28 – Impact of Fires and Insurance Costs
51:26 – Housing, Education, and Health
52:40 – RBA’s Decision
56:22 – RBA’s Reaction to Inflation
59:19 – Unemployment Rate
01:00:31 – Wages Growth
01:08:04 – Consumer Sentiment and Retail Sales
01:15:07 – Business Confidence and Conditions

Australian Property Market Update

01:20:14 – Property Market Overview
01:27:32 – Interest Rate Outlook