STOCK MARKET CARNAGE/RBA RATES
With US stock markets following the major falls seen around the world over fears of an American recession, attention has turned back to what the Reserve Bank of Australia (RBA) plans to do with interest rates today and for the rest of the year. The Australian says the current market turbulence has locked in expectations rates will be held “with economists expecting the RBA to lower its December headline inflation forecast on the back of Labor’s energy bill relief and rent assistance measures”. The AAP says four in five economists anticipated the cash rate would stay unchanged at 4.35%
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