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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the ups and downs of online auctions, the power of activist short-sellers, and tax time 2021.

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Steve Waters, director of Right Property Group, chats about online auctions and why they resemble “a bad Zoom meeting”, the growing resilience of the property market, and how Sydney’s lengthy lockdown could shake things up.

RMIT’s senior lecturer of finance, Dr Angel Zhong, delves into short selling – the original trade that sent GameStop stock soaring – and how activist short-sellers are impacting markets.

And lastly, tax and super guru Timothy Munro talks about those early tax lodgers and possible ramifications, as well as detailing the temporary shortcut method, which you may be able to use this tax time.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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RBA reveals May cash rate call

By Cameron Micallef

May 05 2020
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Borrow

RBA reveals May cash rate call

By Cameron Micallef
May 05 2020

The Reserve Bank of Australia (RBA) has announced its decision on the official cash rate for May amid speculation the central bank will hold rates despite the fallout from COVID-19.

RBA reveals May cash rate call

By Cameron Micallef

May 05 2020
Share

The Reserve Bank of Australia (RBA) has announced its decision on the official cash rate for May amid speculation the central bank will hold rates despite the fallout from COVID-19.

The central bank acted as most economists predicted, holding the cash rate at 0.25 per cent, having previously stated it was the lower bound for Australian rates.

According to Laing+Simmons managing director Leanne Pilkington the central bank has already done it’s part in supporting the economy.

"The Reserve Bank Governor recently challenged the Government to focus on growth and productivity strategies to help the economy, eventually, emerge from the COVID-19 crisis. More efficient taxation solutions including the removal stamp duty is an obvious place to start. Interest rates are already rock bottom and on this score the RBA has done its part."

What’s next for the cash rate?

According to AMP Capital’s chief economist Dr Shane Oliver Australians should get use to a historic low cash rate for longer, with it likely to take time before the central bank can move again on interest rates.

“The cash rate is as low as it's going to go and the next move in rates will be up but it's at least three years away, probably more.”

“The RBA has said on several occasions that it regards 0.25 per cent as the effective lower bound for the cash rate.”

“Based on the experience of other countries there is no value in taking rates negative.”

“So any further easing in monetary policy will have to come from quantitative easing. In the meantime the coronavirus related shutdown will cause a big hit to growth that will take years to fully recover from.”

“This in turn will mean that it will be many years before we see full employment and inflation in the target range of 2-3 per cent which in turn will mean rate hikes are many years away."

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About the author

Cameron Micallef

Cameron is a journalist for Momentum Media's nestegg and Smart Property Investment. He enjoys giving Aussies practical financial tips and tricks to help grow their wealth and achieve financial independence. As a self-confessed finance nerd, Cameron enjoys chatting with industry experts and commentators to leverage their insights to grow your portfolio.

About the author

Cameron Micallef

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