‘100 per cent expectation’ of RBA rate cut in August

Former Howard government minister Peter McGauran says the Reserve Bank will cut the cash rate when they next meet in mid-August. This comes as the headline inflation rate has fallen from 2.4 per cent to 2.1 per cent in the June quarter – the lowest it has been since 2021. “It’s a 100 per cent expectation of the marketplace because both the underlying inflation rate ... as well as the headline inflation rate are well within the 2 to 3 per cent band,” Mr McGauran told Sky News Australia.