In this episode of InEconomics, Ratih Luhur speaks with Stephen Halmarick—former Chief Economist of Commonwealth Bank and now with InEconomics—about the Reserve Bank of Australia’s surprising decision to hold interest rates steady at 3.85% in July 2025.
Key insights:
Why markets were pricing in a rate cut—and why it didn’t happen
What the RBA is waiting for before making its next move
The impact on housing, consumer confidence, and the broader economy
A first-ever look at how RBA board members voted
Stephen’s forecast for rate cuts in August, November, and December
Whether you’re a policymaker, investor, or simply trying to understand what this means for your mortgage—this is essential listening.
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