Craig James - How Is The Economy Placed For 2023, And What Does This Mean For Interest Rates With The RBA?

Want to get the inside scoop on how the economy will fare in 2023 and how it will affect you as a property investor? Welcome to the Australian Property Investment Podcast. In each episode, we ask a guest expert to share their key insights for aspiring investors to make confident property choices.In this week's episode, Craig James, chief economist at CommSec, shares his expert insights on the current and upcoming economic situation and how you can navigate it with confidence. He also talks about how raising interest rates helps the broader economy, his predictions for 2023, what the RBA looks for when setting interest rates, his methodology for dissecting the current state of the economy, how the wealth effect correlates to new car sales, and the reports that CommSec is currently producing.If you want to hear more about the economy and interest rate analysis from a seasoned economist, then make sure to listen to this episode!Time Stamps:00:00 - Intro01:26 - Disclaimer01:58 - Craig's 3Ps (Personal, Professional, and Property Journey)07:19 - Craig's Perspective on the Current Economic Situation10:01 - Raising Interest Rates15:20 - What the RBA Looks For When Setting Interest Rates17:54 - What Does the Outlook Look Like for 2023?20:46 - When do costs begin to decrease22:41 - Craig's Methodology for Dissecting the Current State of the Economy28:35 - Does Wealth Effect Correlate to New Car Sales?33:32 - The Reports that CommSec is Currently Producing36:41 - Final Messages37:28 - OutroAbout Our Host:Aaron-Christie David is the founder of Atelier Wealth and a Mortgage & Finance Association of Australia (MFAA) approved Mortgage Broker. Aaron’s focus is clear – supporting property investors make confident decisions to build their property portfolio. He has been recognised in the MPA Top 100 Broker rankings for the last three years. With over 10 years in financial services experience, with a career spanning Wizard Home Loans and Commonwealth Bank, Aaron's decision to become a broker was to help more Australians fearlessly buy investment properties to achieve intergenerational wealth.Connect with Aaron:Visit the website: https://atelierwealth.com.au/ Follow Aaron on Facebook: https://www.facebook.com/aaronchristiedavid  Follow Aaron on LinkedIn: https://www.linkedin.com/in/aaron-christie-david-a7482a21/ Subscribe to Atelier Wealth’s YouTube Channel: https://www.youtube.com/channel/UCKdm2ssEHel1kyQLAHGvNPQConnect with Craig: Follow Craig on LinkedIn: https://www.linkedin.com/in/craigjames2/ Follow Craig on Twitter: https://twitter.com/craigjamesoz Visit CommSec’s website: https://www.commsec.com.au/ About Aaron:Aaron-Christie David founded Atelier Wealth, a Mortgage & Finance Association of Australia (MFAA) approved Mortgage Broker. Aaron’s focus is clear – supporting property investors to make confident decisions to build their property portfolio. He has been recognised in the MPA Top 100 Broker rankings for the last three years.With over 10 years of financial services experience, with a career spanning Wizard Home Loans and Commonwealth Bank, Aaron's decision to become a broker was to help more Australians fearlessly buy investment properties to achieve intergenerational wealth.Connect with Aaron:Visit the website: https://atelierwealth.com.au/   Follow the Australian Investment Property Podcast’s Official Instagram account: https://www.instagram.com/aupropertyinvestmentpodcast/Follow Aaron on Facebook: https://www.facebook.com/aaronchristiedavidFollow Aaron on LinkedIn:  https://www.linkedin.com/in/aaronchristiedavid/Subscribe to Atelier Wealth’s YouTube Channel: https://www.youtube.com/@atelierwealth_au