Australia inflation cools in Q4, opens door to rate cut
- Australian consumer prices rose at the slowest pace in almost four years in the December quarter, allowing a possible interest rate cut as early as next month according to Wayne Cole.
- The Reserve Bank of Australia has an 80% probability of cutting the cash rate from 4.35% when it meets on February 18, marking the first policy change in over a year.
- Annual inflation dropped to 2.4%, down from 2.8% the previous quarter, remaining within the Reserve Bank's target band of 2-3% according to the Australian Bureau of Statistics.
- The Labor government is facing a tough election this year, and Finance Minister Katy Gallagher mentioned potential cost-of-living relief as they prepare the budget.
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Total News Sources0
Leaning Left4Leaning Right7Center2Last UpdatedBias Distribution54% Right
Bias Distribution
- 54% of the sources lean Right
54% Right
L 31%
15%
R 54%
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