Jeffrey Sheen

There are signs that parts of the Australian economy are beginning to turn the corner (as in the 2008 crisis) by fiscal and monetary stimulus, and relatively strong growth in our major trading partner, China. Obviously, there remains much uncertainty, which is muting both consumer and business confidence. Even though a tiny cut to the cash rate will make little difference to any financial calculations, the likely positive effect on confidence makes it worthwhile. The cash rate should remain very low for a couple of years, at least.

Outcome date: 
Monday 02 November 2020
Current rate: 
12 months: 
6 months: 
3 Years: 

Updated:  5 December 2020/Responsible Officer:  Crawford Engagement/Page Contact:  CAMA admin