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Australians are saving more, not spending, despite lower interest rates, due to economic worries.
Australian households are saving rather than spending the money saved from recent interest rate cuts by the Reserve Bank of Australia, despite lower borrowing costs.
Consumers remain cautious due to concerns about job security, inflation, and economic uncertainty, leading to higher savings rates and subdued spending.
This behavior contrasts with typical responses to rate reductions and may limit the effectiveness of monetary policy in boosting economic growth.
The RBA continues to monitor inflation and labor markets as it evaluates future policy steps.
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Los australianos están ahorrando más, no gastando, a pesar de tasas de interés más bajas, debido a preocupaciones económicas.