The Reserve Bank played it safe and didn’t cut interest rates in April – and households suffer as | Greg Jericho

The latest retail spending figures show that households continue to do it tough and that the Reserve Bank of Australia was wrong when it chose to keep rates steady in April .

The market fully expects at least one rate cut in two weeks ’ time with a 56% chance of a 50 basis point cut to 3.6% . The market has fully priced in four rate cuts by the end of the year .

It might have given the ALP too great of an advantage and led to them winning the election in a landslide. Best to be safe and wait and let households suffer in the meantime..