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Minutes of the Monetary Policy Meeting of the Reserve Bank Board
Members commenced their discussion of domestic economic conditions by assessing the recent data on output growth. They noted that growth had slowed further in the December quarter, largely as expected. Aggregate demand had been supported over 2023 by strong growth in business investment and public spending, and members considered how likely it was this would continue in 2024. Members also noted, however, that household consumption growth had been very weak and negative in per capita terms, as high inflation and increases in interest rates and tax payments had weighed on real incomes. They observed that real household ... (full story)
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RBA: NO MENTION IN MINUTES THAT BOARD CONSIDERED OPTION TO RAISE RATES
— First Squawk (@FirstSquawk) April 2, 2024
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RBA: WOULD TAKE "SOME TIME" BEFORE BOARD COULD BE CONFIDENT INFLATION RETURNING TO TARGET
— First Squawk (@FirstSquawk) April 2, 2024
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RBA: UPSIDE RISKS TO INFLATION HAD NOT YET MATERIALISED, WHILE CONSUMPTION WAS VERY WEAK
— First Squawk (@FirstSquawk) April 2, 2024
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RBA: OVERALL FINANCIAL CONDITIONS REMAINED RESTRICTIVE, PARTICULARLY FOR HOUSEHOLDS
— First Squawk (@FirstSquawk) April 2, 2024