RBA Minutes Say May Meeting Is "Opportune" Time To Revisit Policy Setting

RTTNews | 70 days ago
RBA Minutes Say May Meeting Is

(RTTNews) - Policymakers of the Reserve Bank of Australia said it is important to remain alert to the evolving balance of risks and concluded that the May meeting would be an opportune time to revisit the monetary policy setting, the minutes of the April meeting showed on Tuesday.

Members judged that it was not appropriate at this stage for monetary policy to react to the potential risks that could move outcomes in either direction, the minutes said.

At the April meeting, the bank had retained its interest rate at 4.10 percent. Previously, the bank had reduced the rate by a quarter-point in February.

By the time of next meeting, additional data about inflation, wages, the labor market and trends in economic activity along with a fresh set of economic forecasts and the likely evolution of global trade policies will be available.

Further, members agreed that it was not yet possible to determine the timing of the next move in interest rates. Future decisions will depend on new information and its implications for the economic outlook.

"Members agreed that it would be helpful if the Board's public communication following the meeting made it clear that the outcome of its next decision was not predetermined," the minutes said.

Members also observed that it is important not to jeopardise the progress on bringing inflation sustainably back to the mid-point of the target by easing monetary policy prematurely.

read more
Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
RTTNews | 14 days ago
Australia GDP Adds 0.2% On Quarter In Q1

Australia GDP Adds 0.2% On Quarter In Q1

Australia's gross domestic product expanded a seasonally adjusted 0.2 percent on quarter in the first quarter of 2025, the Australian Bureau of Statistics said on Wednesday.
RTTNews | 20 days ago
Australia Services PMI Ebbs In May - S&P Global

Australia Services PMI Ebbs In May - S&P Global

The services sector in Australia continued to expand in May, albeit it at a slower pace, the latest survey from S&P Global revealed on Wednesday with a services PMI score of 50.6.
RTTNews | 21 days ago
Australia Cuts Key Interest Rate For Second Time This Year

Australia Cuts Key Interest Rate For Second Time This Year

Australia's central bank lowered its benchmark rate by a quarter-point for the second time this year as risks to inflation became more balanced, while uncertainties regarding economic outlook increased due to trade protectionism measures. The policy board of the Reserve Bank of Australia, governed by Michele Bullock, decided to cut the cash rate target to 3.85 percent from 4.10 percent.
RTTNews | 35 days ago
Australia NAB Business Confidence Rises, Conditions Fall

Australia NAB Business Confidence Rises, Conditions Fall

Australia business confidence improved in April, while conditions deteriorated due to weaker profitability, survey results from NAB showed on Tuesday. The business confidence index rose to -1 in April from -3 in March but remained negative. Confidence by industry was mixed, with a significant increase in confidence in manufacturing and smaller increases in wholesale, construction, and finance.
RTTNews | 42 days ago
Australia Services PMI Slips In April - S&P Global

Australia Services PMI Slips In April - S&P Global

The services sector in Australia continued to expand in April, albeit at a slower pace, the latest survey from S&P Global revealed on Monday with a services PMI score of 51.0.
RTTNews | 51 days ago