Australians to Spend Less This Christmas, Survey Shows

The transcript discusses the Reserve Bank of Australia's (RBA) cautious approach to inflation and growth, with potential rate cuts in 2025. Migration has bolstered demand, but consumer spending remains weak. Holiday spending is down 8% from last year, with persistent inflation affecting consumption. Social media, particularly Facebook, is increasingly influencing consumer spending. The economic outlook is uncertain, with immigration policy playing a significant role. An interest rate cut in February could alleviate consumer pressure, but challenges remain for Australian families.

What are the expectations for interest rate cuts in early 2024, and how might they affect consumers?

In what ways are social media platforms influencing consumer spending habits?

What challenges do families face during the holiday season in terms of spending?