The RBA nearly lifted by 0.5% in February, plus reporting season interviews with some heavy hitters

Yesterday the RBA released the minutes from its February meeting which revealed the RBA Board was seriously thinking about a 0.5% rates increase. Their argument was to combat the inflation challenges we are facing and explained that wages data exceeding expectations, as well as a risk that high prices "in the cost of living" would persist. These, amongst others, were all arguments for a 50 basis point increase. Fortunately they decided against it!

I am still expecting the "Lowe blows" will keep coming, with rates to go up again in March by another 0.25%, putting more pressure on mortgage holders.

US markets spooked last night on positive economic data reinforcing fears of further rate rises. Our market has followed lower and like the US, the discretionary sector was the worse performer. Remember CBA is ex-dividend today $2.10 plus franking, so its $2.68 price fall reflects that.

In other news, We are now in the third week of reporting or "confession" season, a time where publicly listed companies report their half-year results. Over the past few weeks I've had some really interesting conversations on Money News with some serious heavy hitters that I think you might find interesting:

  • Fortescue Executive Chairman Andrew "Twiggy" Forrest on whether his priorities are green, or iron ore.
  • Telstra CEO Vicki Brady on whether they intend to increase mobile phone plan costs due to inflation.
  • Domain CEO Jason Pellegrino on where captal city property prices are headed in 2023.
  • BHP CFO David Lamont on whether buying Oz Minerals was a good move for shareholders.

Of course you can always tune in live 7pm Monday-Thursday on the Nine Radio network, or grab the podcast whenever suits you!