Australia's Reserve Bank to review June job data ahead of potential interest rate decision.
Australia's Reserve Bank (RBA) will review June's job numbers ahead of the cash rate call next month. The Australian share market reached an all-time high following the US's unexpected inflation drop, suggesting the Federal Reserve will lower interest rates. Despite higher interest rates slowing the economy, Australian labour force data has remained strong, with a 4% unemployment rate and 39,700 jobs added in May. The possibility of another interest rate hike has resurfaced due to stronger-than-expected inflation.
July 14, 2024
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