Westpac

The OCR looks set to end 2025 at 3.25% – lower than previously thought.

The Australian economy grew by a sluggish 0.3% in the September quarter, with increased government spending driving all of the gain.

Key insights from the week that was.

The shift to a more services-based economy increases economy-wide depreciation rates, and so the need to invest. Higher average interest rates – and economy-wide profit shares – are among the likely results.

The RBNZ cut the OCR by 50bps to 4.25% at its final policy meeting for this year.

Retail sales fell 0.1% in the September quarter, a smaller drop than we expected. Retail spending remains soft, but is likely to firm over the coming months.

Key insights from the week that was.

We have revised our view of the most likely scenario for the path of the RBA’s cash rate, pushing out the start date of the rate-cutting cycle from February to May, but more front-loaded than previously assumed.

Key insights from the week that was.