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Ben Kingsley Blog post by Ben Kingsley

RBA Cash Rate October 2022: How To Stop Inflation Psychology!

Overnight Update: This video was filmed & produced before the UK’s mini-budget was scrapped.

The RBA Monthly Update doesn’t get much bigger than this.  

The Reserve Bank of Australia has once again lifted interest rates, property market sentiment is shifting fast, and despite all, Australia’s retail spending remains at record high levels. Tune in now to find out if we have finally broken the 50 basis point hike rate trend as we slowly rise above a neutral cash rate.

Meanwhile, on the global scene, the United States’ inflation runs rampant, China battles the impacts of COVID on its economy and the global growth forecast has sunken even lower.  This update points to the looming question: Will Australia be pulled into a global recession? 

(Psst…Stick around to the end of the video to get access to free resources on how to beat the banks at their own lending game!)

Tune in to hear Ben unpack all this plus these key themes: 

  • What does Governor Lowe mean by “Inflation psychology in the community” and as consumers, what can you do to help stop inflation!! 
  • Interest Rates are going up again, but when will the RBA take a pause on the cash rate, and why?  
  • The crucial downside risks & upside opportunities to Australian property values in the short term 

P.S. If you’re interested in understanding how interest rates and inflation impact you, be sure to listen to Episode 404 | What do Inflation, Interest Rates & Broccoli have to do with Property?! Or Episode 390 | Will Interest Rates CRASH the Property Market?! on The Property Couch’s podcast. 

Quick tip! If you’re keen to forecast your cashflows through this period, use the handy MoneySTRETCH feature on our free money management platform, Moorr. Click here to sign up or log in. 

And here are all the time stamps!

00:00 – Alert: Overnight Update!

World Economic Update Segment: 

1:13 – United States: Cash Rate  
2:04 – United States: Global Impact 
3:43 – United Kingdom Mini Budget (Alert: Removed after filming)
4:35 – OECD Economic Forecast  
6:19 – United States: GDP & Productivity 
8:45 – United States: Inflation  
9:50 – United States: Consumer Confidence & Sentiment  
10:43 – United States: Property Data  
12:11 – China: Overall Economy Outlook 
13:01 – China: Underperforming Economy  
14:45 – Eurozone: Challenging Economic Conditions  
17:45 – Commodities Data  

Australian Economy Segment 

22:34 – The Cash Rate Announcement! 
23:57 – RBA’s Statements
26:18 – Inflation Psychology in the Community
27:24 – How Do We Fix This?  
29:40 – Inflation Data  
31:03 – Gross Domestic Production (GDP): Economic Growth 
32:13 – GDP: Terms of Trade  
34:12 – GDP: Overall Outlook  
34:34 – Currency Story: Australian Dollar   
36:46 – Jobs & Unemployment 
38:46 – Consumer Sentiment & Confidence 
40:48 – Retail Sales 
43:24 – Business Confidence & Conditions 

Australian Property Market Update 

45:05 – Property Update: Stabilisation of the Market  
46:45 – CoreLogic’s Home Value Index  
49:51 – Downward Pressures on Property Prices  
52:05 – Upward Pressures on Property Prices 
56:54 – Bonus Educational Content: Moorr!  
58:48 – Overall Property Outlook 

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