It's a bet each way ahead of today's RBA Board meeting on interest rates

Economic experts are split over whether another interest rate increase is likely ahead of this afternoon’s meeting of the RBA Board.

While three of the four top banks predicted a few months ago that rates would most likely increase in August, last week’s inflation figures have cast doubt on that outcome. The Australian Bureau of Statistics released data showing that the rate of inflation had fallen for the second consecutive month, down to 6 percent from a peak of 7.8 percent in December last year. While it is heading in the right direction, the pace of the decrease may not be enough to head off a further rise in the cash rate.

Under the governorship of Philip Lowe, the RBA Board has been determined to drive down inflation to a more manageable range of 2 to 3 percent. However, interest rates have risen by 4 percent in little over a year, putting increasing pressure on household budgets and fuelling concerns that any further hikes could push Australia into recession. Dr Lowe will step down as governor after the September board meeting, with deputy governor Michele Bullock taking on the role, the first woman to do so.

The competing economic concerns have left the major banks split down the middle about which way this afternoon’s decision will go, with Westpac and the Commonwealth Bank predicting an increase to 4.35 percent and ANZ and NAB suggesting rates will stay on hold at 4.1 percent.

The decision will be announced later this afternoon.

One of Sydney’s newest premium workplace destinations has unveiled a major art activation designed to transform the traditional office experience.

Contemporary art curator ART+ has partnered with Forum Double Bay to deliver a curated art program throughout the recently opened workspace, anchored by a large-scale mural from Australian artist Vicki Lee in the building’s central atrium.

The collection also includes works by internationally recognised artists Sebastian Magnani, Alan Walsh, Terry O’Neill, Tyler Shields and Alexander Calder, creating what the partners describe as an art-infused environment that integrates culture into the everyday workplace experience.

Rather than treating art as a decorative addition, the program has been designed to form part of the building’s identity, creating moments of inspiration and engagement throughout the day for members and visitors alike.

ART+ founder Jay Lyon said the collaboration reflected a shared vision between the curator and developer to create workspaces that offer more than desks and meeting rooms.

“This is a unique moment to shape the way people experience workspace: not just as a place to work, but as a place to be inspired. Fortis and Art+ share that vision,” he said.

The activation comes as workplace design continues to evolve, with premium operators increasingly incorporating hospitality, wellness and cultural experiences into office environments as businesses seek to attract employees back into physical workspaces.

At Forum Double Bay, the result is a workplace that combines flexible office accommodation with a carefully curated aesthetic experience, positioning the development as a destination rather than simply a place to work.

Artist Vicki Lee said public art had the power to create an emotional connection with a space.

“What I want is for people to walk in and feel something; a connection, a surprise, a moment of beauty. That’s the power of public art,” she said.

Forum Double Bay recently opened at 377 New South Head Road and has been delivered under the development management expertise of Fortis. The project follows the success of Forum in Melbourne’s Cremorne and is operated by The Commons.

According to the release, all works within the building have been leased as part of the curated program, highlighting Fortis’ commitment to creating boutique workplace environments that blend design, hospitality and culture.

The collaboration also reflects the growing role art is playing within commercial real estate, where developers are increasingly using curated collections and commissioned works to create distinctive environments that foster creativity, community and a stronger sense of place.

For ART+, which specialises in sourcing and commissioning contemporary artworks for luxury residential, commercial and hospitality projects, the Forum partnership represents another example of art being integrated into the fabric of a development from the outset rather than being added after completion.

It’s a bet each way ahead of today’s RBA Board meeting on interest rates

As the heat comes out of the inflation rate, the pressure to increase the cash rate has eased. But will it be enough to keep it on hold?

A new collaboration between ART+ and Forum Double Bay is bringing museum-quality artworks and a large-scale mural into the workplace.