Reported about 5 hours ago
Australia's inflation rate surged to 3% in August, hitting the upper limit of the Reserve Bank's target and influencing expectations for interest rate cuts. The Consumer Price Index showed significant increases primarily due to housing costs, which surprised economists who anticipated a lower figure. Following this data and a strong labor market report, the RBA is expected to maintain current rates at its upcoming meeting, while the likelihood of a rate cut in November has diminished.
Source: YAHOO