RBA Minutes: Inflation Slowing Less Than Expected
RTTNews
|
Pred 67 dňami
![RBA Minutes: Inflation Slowing Less Than Expected RBA Minutes: Inflation Slowing Less Than Expected](https://static.mfbcdn.net/images/news/24271/desktop.webp)
(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.
read more
Australia Manufacturing PMI Inches Higher In July - Judo Bank
The manufacturing sector in Australia continued to contract in July, albeit at a slower rate, the latest survey from Judo Bank revealed on Wednesday with a manufacturing PMI score of 47.4.
RTTNews
|
Pred 3 dňami
Australia Jobless Rate Rises Slightly In June
Australia's unemployment rate rose slightly despite a sharp increase in employment, data from the Australian Bureau of Statistics showed on Thursday.
The jobless rate rose slightly to a seasonally adjusted 4.1 percent in June, while it was expected to remain unchanged at 4.0 percent. Employment increased by 50,200 in June, much bigger than economists' forecast of 20,000.
RTTNews
|
Pred 8 dňami
Australia Business Confidence Strengthens; Consumer Confidence Weakens
Australia's business confidence improved in June to the highest since early 2003 but consumer sentiment remained deeply pessimistic in July, private survey results showed on Tuesday. The business sentiment index advanced to +4 in June from -2 in May, monthly survey data from NAB showed today. The increase was led by the strength in manufacturing and wholesale.
RTTNews
|
Pred 17 dňami
Australia Services PMI Slips To 51.2 In June - Judo Bank
The services sector in Australia continued to expand in June, albeit at a slower pace, the latest survey from Jufo Bank revealed on Wednesday with a services PMI score of 51.2.
RTTNews
|
Pred 24 dňami
RBA Minutes: Board Discussed Raising Cash Rate In June
The board of the Reserve Bank of Australia discussed the case for raising the cash rate at its June meeting citing slower-than-expected inflation but finally judged that the case to leave the rate unchanged was the stronger one, the minutes of the meeting showed Tuesday. At the June meeting, the bank had retained its benchmark rate at a 12-year high of 4.35 percent for a fifth straight meeting.
RTTNews
|
Pred 24 dňami
Australia Manufacturing PMI Sinks To 47.2 In June - Judo Bank
The manufacturing sector in Australia continued to contract in June, and at a faster pace, the latest survey from Judo Bank revealed on Monday with a manufacturing PMI score of 47.2.
RTTNews
|
Pred 26 dňami
Australia Private Sector Credit Gains 0.4% In May
Overall private sector credit in Australia was up 0.4 percent on month in May, the Reserve Bank of Australia said on Friday - in line with expectations and easing from 0.5 percent in April.
RTTNews
|
Pred 29 dňami
Australia Inflation Exceeds Expectations In May
Australia inflation accelerated more than expected in May, suggesting the Reserve Bank will remain hawkish at the August meeting. Consumer price inflation rose to 4.0 percent in May from 3.6 percent in April, the Australian Bureau of Statistics reported Wednesday. Inflation was expected to rise to 3.8 percent.
RTTNews
|
Pred 30 dňami