The RBA: Who’s Calling the Shots and How it Affects Your Rates
4/28/202633 min
The cash rate. It’s up. It’s down. Honestly, it’s giving ‘chaos’ when it comes to our everyday spending. Almost as if the cash rate rules everything around us… In this week’s Deep Dive, we’re taking on the RBA; who they are, what they do, and how they call the shots when it comes to the cash rate.
We’ll explain how often they meet, what facts influence their rate decisions and how to be more financially prepared for whatever they throw at us. Because whether you’re investing, running a business, looking for a job or simply trying to get by, the cash rate impacts us all.
Consider this episode a cheat sheet for what the Reserve Bank of Australia actually looks like and how to read the signs before the notifications roll in. We’re covering all the gory details including: inflation data, unemployment rates, wage growth, everyday spending, housing prices and how global factors impact our economy.
With real life examples, plus savvy money moves you can make to help prepare for the shifts, this episode will help you finally make sense of it all. So, if you’ve been a bit mystified by the RBA, how they decide on our cash rate, and why those rates might cause celebration or commiseration, this episode’s for you.
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Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
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Transcript preview
First 90 secondsNatasha Bamblett· Guest0:00
My name's Natasha Bamblett. I'm a proud First Nations woman, and I'm here to acknowledge country. Tihi. Glenyan Ganya. Neyanak akak yau yambena waka. Neyanak guyi nimbena yakarumja. Dumanya gumika dumika itho waka nitu wamin daman emalan. Mumubayng gadha bumai inin ngalyn waka. Garnan yakarumja. Wutu-narra-na. Hello, beautiful friends. We gather on the lands of the Aboriginal people. We thank, acknowledge, and respect the Aboriginal people's land that we're gathering on today. Take pleasure in all the land, and respect all that you see. She's on the Money podcast acknowledges culture, country, community, and connections, bringing you the tools, knowledge, and resources for you to thrive.
Victoria Devine· Host0:44
She's on...
Speaker 20:46
The...
Speaker 30:46
Money.
Victoria Devine· Host0:46
She's on the money.
Natasha Bamblett· Guest0:47
[laughs] [laughs] Hello, and welcome to She's on the Money, the podcast that helps you feel confident with your cash, even when the economy is doing the roast. And today we're talking about something that stresses the absolute life out of so many of us, the RBA rate decisions, why they make them, and what actually goes into those decisions, and how you can get better at reading the signs instead of just sitting there hoping for a rate cut every month. Because let's be honest, every time there's an announcement, it feels like your financial future is hanging in the balance. I'm Bec Side, and with me is the woman who can look at inflation data and somehow make it make sense, Victoria Devine.
Victoria Devine· Host1:24
I try. I do try.
Natasha Bamblett· Guest1:25
You do a really good job.
Victoria Devine· Host1:26
And I'm pretty...
Natasha Bamblett· Guest1:28
Look.
Victoria Devine· Host1:28
We saw it coming.
Natasha Bamblett· Guest1:29
You're pretty.