‘Too high’: Inflation is not where it should be admit RBA bosses
Core inflation stayed above the RBA's target band as petrol and housing costs pushed annual price growth higher, strengthening bets on another rate hike.
- 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 on Melbourne Cup Day, November 3.
- Automotive fuel prices jumped 9.4% in September while annual housing costs rose 5.2%, reflecting global oil pressures and domestic capacity constraints impacting households already struggling with rising living costs.
- Treasurer Jim Chalmers defended government fiscal settings as not a 'primary driver' of inflation, despite opposition accusations of a 'spending addiction,' while Treasury Secretary Jenny Wilkinson cited Middle East conflict as complicating the outlook.
- Investors assign an 87 per cent probability to a fifth interest rate hike on Tuesday, which would lift the cash rate to 4.85%, the highest in about 18 years, reflecting strong market expectations for Reserve Bank of Australia action.
- Consultancy Cotality reported property values slid for the seventh straight month in October, adding to household financial stress as borrowers prepare for further repayment increases following the expected central bank decision.
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40 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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