In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. Economists say multiple measures of inflation are now heading in the wrong direction. What’s next? It has raised concerns, once again, that the Reserve Bank may have to respond by lifting interest rates. The...
Tag: consumer price index
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Big four banks warn first rate cut won’t come until November, as ‘incredibly strong’ migration makes the RBA’s task ‘more difficult’
In short: The economics teams at Australia’s ‘Big Four’ banks all expect the Reserve Bank to cut interest rates in November, rather than September. They say last week’s surprisingly strong inflation data show inflation is ‘stickier’ than anticipated. But extremely weak retail sales in March show households are under pressure, while strong population growth is complicating the RBA’s...