Australia's May trade surplus at AUD 5.773bn was lower than expected, with rising exports and imports, while the RBA considers inflation impact for further rate hikes.

Australia's May trade surplus reached AUD 5.773 billion, which was lower than the expected AUD 6.678 billion, though exports rose to their highest level since August 2022. Imports increased significantly after a -7% drop in April, signaling a strong economy. The Reserve Bank of Australia is not considering a rate cut and may consider another rate hike due to persistent inflation.

July 03, 2024
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