For more information please see our The Motley Fool Australia, PO Box 4635, Ashmore, Qld 4214James Mickleboro has been a Motley Fool contributor since late 2015. August 2020 Economists at Westpac have boosted the AUD/USD end-2020 forecast from 0.72 to 0.75 while the 2021 scenario of a further solid boost to AUD remains int So if you’re looking to get your finances on track and you’re in or near retirement – we’ve got you covered! Westpac weekly James is part of the CFA Institute’s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing.
New Zealand economic and financial forecasts. Here's a summary of our current home loan rates as at 30 August 2020. This way, you can lock in a rate on the fixed portion of your loan and still make extra repayments on both loans to get ahead. Economists from Australian big bank Westpac have pushed their forecast for a rate hike to December 2020, according to a report from Business Insider Australia.. Westpac's prediction followed Reserve Bank of Australia governor Philip Lowe’s statement saying rates will remain at record lows for a longer period of time. Find the investing style that's right for you.
Our latest economic and financial forecasts and Quarterly Economic Overview.Our forecasts for the New Zealand economy, interest rates and exchange rates.An in-depth discussion of the economic outlook, topical issues and forecasts.All opinions, statements and analysis expressed are based on information current at the time of writing from sources which Westpac believes to be authentic and reliable.
As we have already seen with the move to ultra-low rates and then QE, if moves come as too much of a surprise, they can exacerbate concerns about the economy and cast doubt on the ability of policymakers to achieve better outcomes,” he said.Mr Evan concluded: “Although there is a clear current message from the RBA, circumstances can change and astute policy makers (as the RBA has proven to be over many decades) can change with them.”I would be surprised if rates went lower from here, but anything is certainly possible in the current environment.But one thing that is for sure, is that in looks set to be many years until rates return to normal levels again.When investing expert Scott Phillips has a stock tip, it can pay to listen. For a limited time, The Motley Fool Australia is giving away an urgent new investment report outlining our 5 favourite stocks for investors over 50.
Latest Forecasts (xls) Quarterly Economic Overview.
The cash rate is currently at a record low of 0.75% after three cuts of 25 basis points since June this year. An in-depth discussion of the economic outlook, topical issues and forecasts. On Tuesday of next week the Reserve Bank is scheduled to hold its next cash rate meeting.Futures are pointing to a 53% probability of rates remaining on hold and a 47% probability of rates being cut to zero.Although the bank maintains is forecast for rates to stay at 0.25% for the foreseeable future, it isn’t ruling out further cuts.Chief Economist Bill Evans commented: “[A] serious case can be made for the RBA to consider further cuts and entering negative territory for the cash rate if it becomes apparent that the economy is deteriorating even more than is currently expected.”Mr Evans sees positives in a move to negative rates.“A small open economy with significant foreign liabilities would certainly see a substantial improvement in the competitiveness of the currency with further rate cuts when other major markets are anchored at their effective lower bounds,” he added.It is worth noting that Westpac’s chief economist does have a few concerns over negative rates.This is mainly the impact they could have on expectations and confidence.Evans explained: “Is there some nonlinear impact on expectations as rates move into negative – a ‘sticker shock’ even though the same policies have been seen abroad – or does such a bold move strengthen perceptions of the RBA’s determination to deliver on its objectives?”But Evans believes the Reserve Bank can avoid this by communicating its objectives to avoid any shocks.“The risks are as much about framing and communication as the policy itself.
Westpac Home Loan customers can also choose to split their home loan into two – one loan with a fixed interest rate for a set number of years and one with a variable rate.
This was the start of a love affair with Australian equities and he hasn’t looked back since.
After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. Our forecasts for the New Zealand economy, interest rates and exchange rates. Westpac said on Tuesday that negative interest rates would be a natural next step for New Zealand's central bank as it responds to the economic fallout of the coronavirus crisis. *This Service provides only general, and not personalised financial advice, and has not taken your personal circumstances into account. The content of this material is a guide only. The Motley Fool Australia operates under AFSL 400691. You should obtain independent professional advice. It does not take into account your personal financial situation and goals. Although the bank maintains is forecast for rates to stay at 0.25% for the foreseeable future, it isn’t ruling out further cuts. Each company boasts strong growth prospects over the next 3 to 5 years, and most importantly each pays a generous (and fully franked) dividend!
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