‘Too high’: Inflation is not where it should be admit RBA bosses
- The Australian Bureau of Statistics reported annual inflation reached 4.3% on Wednesday, exceeding forecasts and ramping up market expectations for a Reserve Bank rate hike.
- Housing inflation surged 5.2% while automotive fuel costs climbed 9.4%, driving the Reserve Bank's preferred trimmed mean measure to 3.7%, higher than its 0.8 per cent forecast.
- Market probability for a November rate hike jumped to 80 per cent, as Marc Jocum, Global X ETFs senior investment strategist, said the data was "an ugly number" strengthening the case for another increase.
- Shadow Treasurer Tim Wilson claimed the government was forcing the Reserve Bank to hike rates by driving up underlying inflation, while Treasurer Jim Chalmers defended fiscal settings as "responsible."
- Most economists expect the Reserve Bank to hike rates to 4.85 per cent by November, its highest level in 18 years, as Australia faces a prolonged demand-suppression cycle well into 2027.
37 Articles
37 Articles
Newcastle Herald
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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.
Inflation jumps to 4.3%, adding to pressure for RBA rate rise next week
Australia’s annual inflation rate jumped to 4.3% in September, up from 4.0% in August, keeping pressure on the Reserve Bank ahead of Tuesday’s interest rate decision. Market expectations for another rate rise next week – which would be the fifth this year – surged to 80% after the inflation report. Petrol and holiday costs helped drive the increase. But the more important test for the bank was underlying inflation: the RBA’s preferred measure of…
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