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Empower Wealth Blog post by Empower Wealth

RBA Cash Rate July 2022: Yet Another Cash Hike BUT Why Consumer Sentiment is not as bad as it seems?

And just like that, we’re back with another jam-packed economic and RBA update!  

This month saw the RBA lift cash rates by yet another 50 basis points, bringing the official cash rate to 1.35% – the biggest month-on-month increase in 22 years and the highest cash rate since early June 2019.

Tune in as Ben unpacks this new cash rate plus…

Here are our three other key themes for this month’s economic update: 

  • The world’s leading economies are going to manufacture an economic slowdown to curb global inflation 
  • What do we need to do to break our current upswing in the domestic inflation cycle? 
  • Consumer Sentiment – how worried should we be? 
  • A snapshot look at the 2021 Census Data 
  • And finally, an important Property update!

And here are all the time stamps!

0:00 – Welcome back! 

World Economic Update Segment:

0:23 – United States: Inflation 
1:44 – China: Overall Update 
2:39 – Europe: Inflation 
3:30 – The Global Inflation Story: World Bank & OECD 

Australian Economy Segment

4:49 – The Cash Rate Announcement! 
5:34 – Moving Towards a “More Normalised” Cash Rate  
6:21 – Domestic Price Inflation 
7:20 – What does this mean for future cash rates?  
9:30 – External: Factors outside our control  
11:33 – What can we control to curb inflation? 
15:08 – Jobs & Unemployment 
18:40 – Consumer Confidence & Sentiment 
21:07 – How worried should we be?  
23:49 – Experience teaches you about market cycles 
24:46 – Our Key Message #1: Remain Calm, Remain Cool 
25:30 – Retail Sales 
27:14 – Business Confidence & Conditions 
29:41 – Census 2021 Release

Australian Property Market Update

34:39 – CoreLogic’s Home Value Index – 30 June 2022 
36:17 – Our Key Message #2: Understanding Supply & Demand in Market Cycles  
40:34 – Summary & Takeaways 

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