RBA Minutes: Australia GDP Remains Softer Than Expected
RTTNews
|
56 days ago

(RTTNews) - Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's gross domestic product continues to be subdued and is softer than expected, minutes from the central bank's December 9-10 meeting revealed on Tuesday.
Inflation remains a concern, the minutes showed, as underlying consumer prices are still too high, the board members said.
Complicating that fact, members acknowledged that wage growth has slowed more than expected.
At the meeting, the RBA Policy Board held the cash rate target at a 13-year high of 4.35 percent. The previous change in the interest rate was in November 2023, when it was lifted by 25 basis points to the highest level since late 2011.
read more
Australia Cuts Key Interest Rate For First Time Since 2020
The Reserve Bank of Australia lowered its benchmark rate for the first time since 2020 as upside risks to inflation eased but policymakers remained cautious about further easing. The policy board of the RBA governed by Michele Bullock decided to reduce the cash rate target by 25 basis points to 4.10 percent. The decision came in line with expectations.
RTTNews
|
7h 12min ago
Australia NAB Business Conditions Fall; Confidence Improves
Australia's business conditions declined in January, while confidence improved with broad-based increases across industries, survey data from NAB showed on Tuesday. The business conditions index declined to 3 from 6 in December. Meanwhile, the business confidence index advanced to 4 from -2 in the previous month.
RTTNews
|
7 days ago
Australia Building Consents Rise 0.7% In December
The total number of building permits issued in Australia was up a seasonally adjusted 0.7 percent on month in December, the Australian Bureau of Statistics said on Monday - coming in at 15,174.
RTTNews
|
8 days ago
Australia Has A$5.085 Billion Trade Surplus
Australia posted a seasonally adjusted merchandise trade surplus of A$5.085 billion in December, the Australian Bureau of Statistics said on Thursday.
RTTNews
|
12 days ago
Australia Services PMI Improves To 51.2 - S&P Global
The services sector in Australia continued to expand in January, and at a faster pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 51.2.
RTTNews
|
13 days ago
Australia Retail Sales Ease 0.1% In December
The total value of retail sales in Australia was down a seasonally adjusted 0.1 percent on month in December, the Australian Bureau of Statistics said on Monday - coming in at A$36.991 billion.
RTTNews
|
15 days ago
Australia Building Approvals Add 0.7% In December
The total number of building permits issued in Australia was up a seasonally adjusted 0.7 percent on month in December, the Australian Bureau of Statistics said on Monday - coming in at 15,174.
RTTNews
|
15 days ago
Australia Manufacturing Sector Expands In January - S&P Global
The manufacturing sector in Australia moved back up into expansion territory in January, the latest survey from S&P Global revealed on Monday with a PMI score of 50.2.
RTTNews
|
15 days ago