The Reserve Bank of Australia keeps high interest rates due to inflation and strong employment.

The Reserve Bank of Australia (RBA) is maintaining high interest rates due to persistent inflation and a tight labor market, despite other countries lowering theirs. The RBA projects inflation will stabilize by late 2026 but stresses this is not a firm forecast. Economists have pushed back expectations for interest rate cuts from February to May, citing strong employment and consumer confidence. The RBA's cautious approach is aimed at ensuring inflation returns sustainably to target levels.

November 28, 2024
44 Articles