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The EUR/USD pair struggles to capitalize on the previous day's modest gains and attracts fresh sellers in the vicinity of the 1.0800 round-figure mark during the Asian session on ...
The dollar was firm on Tuesday and the Aussie under a little pressure as traders watched out for the Reserve Bank of Australia's interest rate decision with bets that rates may ...
Japan’s households cut back spending in July as persistent inflation continued to erode purchasing power, adding pressure on the government to ramp up aid when it unveils a fresh ...
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Forecasts for China’s 2023 and 2024 economic growth have been slashed on Wall Street over the past few weeks. The world’s second-largest economy now risks missing Beijing’s own ...
At its meeting today, the Board decided to leave the cash rate target unchanged at 4.10 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.00 per cent. Interest rates have been increased by 4 percentage points since May last year. The higher interest rates are working to establish a more sustainable balance between supply and demand in the economy and will continue to do so. In light of this and the uncertainty surrounding the economic outlook, the Board again decided to hold interest rates steady this month. This will provide further time to assess the impact of the increase in interest rates to date and the economic outlook. Inflation in Australia has passed its peak and the monthly CPI indicator for July showed a further decline. But inflation is still too high and will remain so for some time yet. While goods price inflation has eased, the prices of many services are rising briskly. Rent inflation is also elevated. The central forecast is for CPI inflation to continue to decline and to be back within the 2–3 per cent target range in late 2025. The Australian economy is experiencing a period of below-trend growth and this is expected to continue for a while. High inflation is weighing on people’s real incomes and household consumption growth is weak, as is dwelling investment. Notwithstanding this, conditions in the labour market remain tight, although they have eased a little. Given that the economy and employment are forecast to grow below trend, the unemployment rate is expected to rise gradually to around 4½ per cent late next year. Wages growth has picked up over the past year but is still consistent with the inflation target, provided that productivity growth picks up. Returning inflation to target within a reasonable timeframe remains the Board’s priority. High inflation makes life difficult for post: ?*RBA: INFLATION IN AUSTRALIA HAS PASSED ITS PEAK *RBA: MORE TIGHTENING DEPENDS ON HOW ECONOMY, RISKS EVOLVE *RBA: INFLATION STILL TOO HIGH, WILL REMAIN SO FOR SOME TIME post: ?*RBA: SOME FURTHER TIGHTENING OF MONETARY POLICY MAY BE REQUIRED *RBA: HIGHER RATES ARE WORKING TO BALANCE SUPPLY, DEMAND *RBA: AUSTRALIA ECONOMY EXPERIENCING BELOW-TREND GROWTH *RBA: HIGH INFLATION WEIGHING ON REAL INCOMES
China is no longer set to eclipse the US as the world’s biggest economy soon, and it may never consistently pull ahead to claim the top spot as the nation’s confidence slump ...
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- Posted: Sep 4, 2023 11:37pm
- Submitted by:Category: Low Impact Breaking NewsComments: 0 / Views: 2,063
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