Reported about 1 year 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