News
Wealth Pi Fortnightly Economic Snapshot
Interest Rates
As of 24 July 2025, the ASX 30 Day Interbank Cash Rate Futures indicate a 98% market expectation that the Reserve Bank of Australia will cut the official cash rate from 3.85% to 3.60% at its next meeting on 12 August 2025.
RBA
On 8 July 2025, the RBA Board held the cash rate at 3.85%, citing continued moderation in inflation and a resilient labour market, but opted to wait for further data amid global and domestic uncertainties before considering future rate changes, with the decision passed by a 6–3 majority.
Australian Markets
Australia’s unemployment rate rose to 4.3% in June 2025, driven by a rise in the number of unemployed people and a decline in full-time employment and hours worked, while underutilisation also increased amid stable participation and employment-to-population ratios.
Global Markets
In the US, the July 2025 Central Texas flash floods, classified as a rare 1,000-year event, caused over $1.1 billion in residential property damage and more than 120 fatalities, with limited insurance coverage exposing a significant protection gap as most affected homeowners lacked flood insurance.
Since 2022, UK renters have faced steeper housing cost increases than mortgaged homeowners, with average monthly rents rising £221—driven by high demand and limited supply—while rental growth is now slowing but remains unaffordable for many amid a persistent shortage of rental housing.
Property
Brisbane has officially joined the million-dollar club with a median house value of $1.011 million as of June 2025, driven by a 76% surge in prices since 2020 due to strong interstate migration and constrained housing supply, although recent affordability pressures have started to slow growth.
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