Business
There are three major events on tomorrow – the Melbourne Cup, the RBA’ monthly board meeting and the US election. But the result of only one seems clear as it can be at this stage.
Analysis
What happens if interest rates hit zero? The Reserve Bank’s new computer model has some ideas, writes Isaac Gross.
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The Reserve Bank believes the number of home owners behind on their mortgages could keep climbing for some time, although not to levels that might threaten Australia’s financial stability.
The banks haven’t done themselves any favours, stirring a political hornets’ nest after failing to pass on the latest official 0.25 per cent interest rate cut in full.
The Reserve Bank has cut its key interest rate to a fresh record low of 1.50 per cent.
The Reserve Bank says it could cut the cash rate further if needed, but that the current setting is right for the time being.
