Reported 12 months ago
Minutes from the Reserve Bank of Australia's June meeting revealed that the bank had considered tightening policy but ultimately decided to keep the key rate at 4.35% due to inadequate recent data affecting its inflation outlook. The RBA emphasized its commitment to returning inflation to the 2%-3% target and expressed uncertainty about future policy moves. Market expectations suggest a 65% chance of a rate hike to 4.6% this year, but economists anticipate a steady cash rate in August and throughout 2024. Australia's economic slowdown, resilient labor market, and impending data releases will impact the RBA's decisions moving forward.
Source: YAHOO