Opinion

If the RBA holds rates on Tuesday, this will be why

Whether Michele Bullock delivers a rate cut on Tuesday or waits will hinge on how the RBA board interprets shifting signals from the jobs market.

Michael ReadEconomics correspondent

Feb 17, 2025 – 2.49pm

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Rate cuts are on the table, but so is the question: does the RBA need to rush?

With inflation on track to settle in the RBA’s 2 per cent to 3 per cent target band, bond markets think there is an 88 per cent chance governor Michele Bullock will cut the cash rate on Tuesday. Many economists, however, believe the odds are something closer to a coin toss.

Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS.