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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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Predictions roll in for how low rates can go

By Cameron Micallef

June 05 2019
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Predictions roll in for how low rates can go

By Cameron Micallef
June 05 2019

The Reserve Bank of Australia’s decision to cut rates to a new record low may not be enough to stimulate the economy, the central bank governor warned, prompting predictions of further rate cuts.

Predictions roll in for how low rates can go

By Cameron Micallef

June 05 2019
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The Reserve Bank of Australia’s decision to cut rates to a new record low may not be enough to stimulate the economy, the central bank governor warned, prompting predictions of further rate cuts.

The official cash rate of Australia has moved to 1.25 per cent, down 25 basis points from its already historic low of 1.5 per cent, which the Reserve Bank has left it at since August 2016.

This is the 13th rate cut in this rate cutting cycle dating back to November 2011 when rates were at 4.75 per cent.

In a speech made at the Reserve Bank Board Dinner, the governor refused to rule out further rate cuts.

“The board has not yet made a decision, but it is not unreasonable to expect a lower cash rate. Our latest set of forecasts were prepared on the assumption that the cash rate would follow the path implied by market pricing, which was for the cash rate to be around 1 per cent by the end of the year,” said governor Philip Lowe.

Chief Economist for AMP Capital Shane Oliver was not surprised by yesterday’s announcements, as he believes Australia will have enough three rate cuts by mid next year.

“More rate cuts are likely to be needed ultimately taking the cash rate to a low of 0.5 per cent next year. Ideally, this will be combined with more fiscal stimulus,” said Mr Oliver.

What drove the rate down?

According to Mr Oliver, economic growth has been hit with a variety of factors, including a housing downturn, a national drought and threats to global growth from the US trade war.

This in turn has seen the unemployment rate deteriorate with a combined unemployment and underemployment rate of 13.7 per cent, which in turn led to low wage growth and inflation falling below the national target of 2-3 per cent.

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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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