Rate cuts could come earlier than expected — but there’s a catch | Westpac stands firm on Augus…

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Rate cuts could come earlier than expected — but there's a catch

SBS acknowledges the Traditional Custodians of Country and their connections and continuous care for the skies, lands and waterways throughout Australia.

Even if you weren’t a Telstra customer, you were likely affected by its network outage on Wednesday, as its share price fell in the aftermath.

However, sharemarkets were more impacted by the renewed hostilities in the Middle East which caused a spike in oil prices and will likely lead to higher petrol prices in a few weeks.

On a positive note, the Australian sharemarket welcomed its newest company in what was a successful listing.

And one of our biggest banks is now expecting interest rates to fall earlier than expected, albeit with a condition: they need to rise first.

Major bank drops new expectation for 2027 rate cuts

All of Australia’s largest home loan lenders anticipate Aussie households are now in line for interest rate relief from next year.

It comes as Westpac – typically the most hawkish of the big four banks – updated its expectations around the Reserve Bank’s interest rate path today, confirming it now expects rate relief next August rather than in 2028.

The change comes after the bank updated its inflation outlook on the back of ongoing conflict in the Middle East, noting some improvement in the energy market outlook.

It comes after a challenging few months for households juggling high fuel and food prices as the global oil crisis wreaks havoc on supply changes internationally.

The dynamic landscape of current events often brings forth significant discussions. Monitoring these developments provides crucial insights.

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