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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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Australia Trade Surplus At 17-Month High; Household Spending Growth Rises
Australia's trade surplus surged to the highest level in more than a year in July and household spending growth accelerated for the third straight month in July, official data showed on Thursday. The trade surplus increased unexpectedly to A$7.3 billion in July from A$5.4 billion in June, the Australian Bureau of Statistics said.
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Pred 14 h 32 min
Australia GDP Growth Accelerates In Q2
The Australian economy expanded at a faster pace in the second quarter after severe weather events damped activity in the preceding quarter, data from the Australian Bureau of Statistics revealed on Wednesday. Gross domestic product growth doubled to 0.6 percent in the June quarter from 0.3 percent in the March period. The rate also exceeded economists' forecast of 0.5 percent.
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Pred 1 dňom
Australia Manufacturing PMI Picks Up Steam In August - S&P Global
The manufacturing sector in Australia continued to expand in August, and at a faster rate, the latest survey from S&P Global revealed on Monday with a manufacturing PMI score of 53.0.
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Pred 3 dňami
Australia Inflation Accelerates To 1-Year High
Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.
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Pred 8 dňami
Australia Manufacturing PMI Improves To 52.9 - S&P Global
The manufacturing sector in Australia continued to expand in August, and at a faster rate, the latest survey from S&P Global revealed on Thursday with a manufacturing PMI score of 52.9.
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Pred 14 dňami
Australia Consumer Sentiment At 3 1/2 Year High: Westpac
Australia's consumer confidence improved to a three-and-a-half year high in August as the central bank is expected to lower rates further after a third cut this year, monthly survey results from Westpac showed on Tuesday. The Westpac-Melbourne Institute Consumer Sentiment Index rose to 98.5 in August from 93.1 in June.
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Pred 16 dňami
Australia Trims Key Interest Rate For Third Time This Year; Cuts Growth Outlook
The Reserve Bank of Australia reduced its benchmark interest rate by a quarter-point for the third time this year as underlying inflation continued to moderate, while economic growth outlook was lowered due to weaker-than-expected recovery in public demand. The board decided to trim the cash rate target by 25 basis points to 3.60 percent. The decision was unanimous.
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Pred 23 dňami
Australia June Trade Surplus A$5.365 Billion
Australia posted a seasonally adjusted merchandise trade surplus of A$5.365 billion in June, the Australian Bureau of Statistics said on Thursday.
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Pred 28 dňami
