RBA Minutes: Global Growth Likely To Slow In H2 2025
(RTTNews) - Members of the Reserve Bank of Australia's Monetary Policy Board felt that the country's economic growth was expected to slow in the second half of 2025, minutes from the central bank's November 4 monetary policy meeting revealed on Tuesday.
The minutes showed that consumer prices climbed more than expected in the September quarter, while monetary policy may need to be adjusted to the downside if the labor market were to weaken further.
The members agreed that GDP was fluid and could come in stronger or weaker than expected; they also noted the shift in the composition of growth from public to private demand.
At the meeting, the RBA held its cash rate at 3.60 percent, as widely expected. The bank had reduced the rate by 25 basis points each in August, May and February. The current 3.60 percent is the lowest since March 2023 as board members observed that some inflationary pressure may remain in the economy.
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