'Almost no chance' RBA will cut rates again this year | Sky News Australia

Market Economics Managing Director Stephen Koukoulas says "there's almost no chance" the Reserve Bank of Australia will cut interest rates until "early in the new year if the economy doesn't get that momentum they're hoping for". "Consumers are still cautious.

There's evidence they're using both the interest rate cuts and the income tax cuts that we saw earlier this year to reduce their debts," he said. Treasurer Josh Frydenberg has ruled out changes to a monetary agreement with the Reserve Bank which would see the nation's inflation target lowered. Mr Koukoulas said "Australia's openness to terms of trade and commodity price changes makes it very volatile... the RBA shouldn't adjust to every quirk in the numbers".

TheKouk still sceptical about this wealth effect you talk about in the video...

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