Good morning!
Hello, I’m Daniel Ziffer from the ABC business team and I’ll be taking you through the morning on our business, finance and economics blog.
But let’s be realistic, the main game is at 2.30PM AEST when the Reserve Bank releases its decision on the cash rate.
It is largely tipped to make a 25-basis point cut (in practice the rate would lower by 0.25%, but it’s not a literal 0.25% lowering of the overall rate).
Some outlier economists suggest the rate will be cut by 50-basis points.
Multiple things would happen if there’s a cut. For the one-third of Australians with a loan, the rate they pay in interest would fall, giving them more money at the end of each month.
On the forward-looking side, the cost of money would decrease, potentially spurring loans, expansion and investment.
That decision is hours away, and we’ll bring you analysis and impact all through today.
Overnight, Wall Street indices lifted.
The blue-chip Dow Jones of 30 mega-companies like Boeing and Visa was +0.3% to 42,792 points.
The broader S&P 500 that covers 500 of the largest listed companies in the US +0.1% to 5,963 points.
The tech-heavy Nasdaq was flat, +0.02% to 19,215 points.
These numbers are live, and trading is continuing, we’ll update you when there’s a firm closing price.
Our market is set to rise with the ASX 200 futures index tipping a hike of 0.8% or 73 points to 8,384 points.
There’s lots to get to, all of it news, analysis and information and none of it financial advice.
Let’s get started!
