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RBA Minutes: Inflation Slowing Less Than Expected
(RTTNews) - Members of the Reserve Bank of Australia's Monetary Policy Board said that the country's economy was slowing and that inflation was declining less than expected, minutes from the central bank's May 7 meeting revealed on Tuesday.
A higher cash rate may be necessary to slow the pace of disinflation, the bank said.
Consumer spending was also weaker than expected, the minutes showed, and consumption growth was expected to remain weak for the rest of 2024.
At the meeting, the RBA policy board left its benchmark interest rates unchanged, leaving the cash rate target at 4:35 percent. The board also retained the interest rate paid on Exchange Settlement balances at 4.25 percent.
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RBA Minutes: Policymakers Discussed Rate Hike Scenario
Policymakers of the Reserve Bank of Australia discussed scenarios in which policy tightening may need to be considered, the minutes of the meeting held on December 8 and 9 showed Tuesday. Members became less confident that monetary policy remains restrictive, the minutes showed. Policymakers assessed that inflationary pressures could be a little more persistent than had been previously estimated
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13h 38min atrás
Australia Composite Index Eases To 51.1 In December - S&P Global
Australia's composite index continued to expand in December, albeit at a slower pace, the latest survey from S&P Global revealed on Tuesday with a composite PMI score of 51.1.
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7 dias atrás
Australia Jobless Rates Holds Steady At 4.3% In November
The unemployment rate in Australia came in at a seasonally adjusted 4.3 percent in November, the Australian Bureau of Statistics said on Thursday - unchanged from the October reading and shy of expectations for 4.4 percent.
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12 dias atrás
Australia Trade Surplus A$4.385 Billion In October
Australia posted a merchandise trade surplus of A$4.385 billion in October, the Australian Bureau of Statistics said on Thursday.
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19 dias atrás
Australia GDP Grows 0.4% In Q3
Australia's gross domestic product expanded a seasonally adjusted 0.4 percent on quarter in the third quarter of 2025, the Australian Bureau of Statistics said on Wednesday.
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20 dias atrás
Australia Services Sector Accelerates In November - S&P Global
The services sector in Australia continued to expand in November, and at a faster rate, the latest survey from S&P Global revealed on Wednesday with a services PMI core of 52.8.
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20 dias atrás
Australia Building Approvals Sink 6.4% In October
The total number of building permits issued in Australia was down a seasonally adjusted 6.4 percent on month in October, the Australian Bureau of Statistics said on Tuesday - coming in at 15,832.
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Australia Has A$16.646 Billion Current Account Shortfall
Australia posted a current account deficit of A$16.646 Billion in the third quarter of 2025, the Australian Bureau of Statistics said on Tuesday.
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21 dias atrás
