‘Too high’: Inflation is not where it should be admit RBA bosses
Markets now price an 80% chance of another rate rise after the latest data showed broad-based price pressures and a 3.6% trimmed mean.
- On Wednesday, October 28, the Australian Bureau of Statistics reported annual headline inflation rose to 4.3% in September, cementing market expectations for a fifth interest rate hike by the Reserve Bank of Australia on November 3.
- High fuel costs, which jumped 9.4% in September, alongside a 5.2% annual rise in housing costs, drove the headline inflation increase; Treasurer Jim Chalmers emphasized that global pressures and private sector demand remain the primary drivers.
- Reserve Bank officials told a Senate Estimates hearing the figures were broadly expected but remain 'too high', while financial markets reacted immediately with the probability of a rate hike surging to 87 per cent.
- Property values fell for the seventh consecutive month, declining 1.2% in October as rising interest rates eroded borrowing capacity, with property consultancy Cotality reporting national dwelling values down 6.7% since their March peak.
- Amid persistent inflation risks, Governor Michele Bullock identified weak productivity growth as a 'fundamental challenge', and economists project interest rates may need to remain elevated well into 2027 to curb price pressures effectively.
42 Articles
42 Articles
‘Inflation nation’: Aussies brace for fifth rate hike
The Albanese government has been urged to rein in its spending and pull every leaver to create “household budget breathing room” as families and small business owners braced themselves ahead of a likely interest rate hike on Tuesday – the fifth this year.
Newcastle Herald
The Canberra TimesNovember rate hike a lock after 'ugly' inflation result
All four of Australia's big banks are betting on a Melbourne Cup day rate rise after hot inflation...
Jim Chalmers is blaming Australia’s accelerating inflation on Trump – but voters aren’t buying it
نُشر هذا المقال أولاً عبر Cedarnews.net. لمتابعة المزيد من الأخبار والتقارير الحصرية، زورونا على موقعنا. Jim Chalmers blaming: The development was reported about 4 minutes ago. The verified report states: As next week’s all-but certain rate rise looms, there. It. تم نشر هذا الخبر عبر موقع Cedarnews الإخباري. للاطلاع على مزيد من الأخبار العاجلة والتقارير الحصرية، زوروا موقعنا الرسمي.
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