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RBA Minutes: Uncertainties Continue To Surround Economic Outlook
(RTTNews) - Members of the Reserve Bank of Australia's Monetary Policy Board acknowledged that there are still significant uncertainties surrounding the country's economic outlook, minutes of the board's May 2 meeting revealed on Tuesday.
Inflation remains high but probably has peaked, the members added while deciding whether to hike its benchmark lending rate or leave it unchanged.
However, projections showed that inflation is not likely to reach the top of the central bank's target band until mid-2025.
At the meeting, the RBA unexpectedly raised its benchmark interest rate by a quarter-point to 3.85 percent and signaled more hikes to bring inflation back to the target in a reasonable timeframe.
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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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14h 55phút trước
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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1 ngày trước
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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3 ngày trước
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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8 ngày trước
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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14 ngày trước
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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16 ngày trước
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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23 ngày trước
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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28 ngày trước
