{"id":122349,"date":"2024-11-05T13:45:07","date_gmt":"2024-11-05T06:45:07","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=122349"},"modified":"2024-11-05T13:45:07","modified_gmt":"2024-11-05T06:45:07","slug":"australias-central-bank-keeps-rates-unchanged-at-4-35","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=122349","title":{"rendered":"Australia&#8217;s central bank keeps rates unchanged at 4.35%"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-106971173\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>A pedestrian passes the Reserve Bank of Australia (RBA) building in Sydney, Australia, on Monday, Sept. 6, 2021.<\/p>\n<p>David Gray | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Australia&#8217;s central bank <a href=\"https:\/\/www.rba.gov.au\/media-releases\/2024\/mr-24-24.html\" target=\"_blank\" rel=\"noopener\">held its benchmark interest rate<\/a> at 4.35% for the eighth meeting in a row, in line with expectations from economists polled by Reuters.<\/p>\n<p>In contrast to a more dovish stance from other central banks in advanced economies, the Reserve Bank of Australia wrote in its statement that &#8220;inflation has fallen substantially since the peak in 2022,&#8221; but also added that underlying inflation is too high.<\/p>\n<p>As such, the bank&#8217;s forecasts also do not see inflation returning sustainably to the midpoint of its 2%-3% target until 2026.<\/p>\n<p>The RBA noted that headline inflation in the country has declined, coming in at 2.8% for the third quarter, a marked decline from 3.8% in the quarter ending June.<\/p>\n<p>However, it also pointed out that this was expected due to declines in fuel and electricity prices in the September quarter, and added that &#8220;part of this decline reflects temporary cost of living relief.&#8221; The central bank expects that the headline rate will increase as these measures expire.<\/p>\n<p>The RBA instead pointed at the underlying inflation rate in Australia. The &#8220;trimmed mean&#8221; came in at 3.5% in the the September quarter, which was still &#8220;some way&#8221; from the 2.5% midpoint of the inflation target.\u00a0<\/p>\n<p><a href=\"https:\/\/www.rba.gov.au\/publications\/smp\/2024\/nov\/\" target=\"_blank\" rel=\"noopener\">Moving forward,<\/a> it expects the outlook to remain &#8220;highly uncertain.&#8221; It said that if conditions in the labor market are stronger than expected and productivity growth remains weak, inflation could decrease more slowly, restricting the case for a rate cut.<\/p>\n<p>However, household spending might not increase as quickly as expected, which could mean that inflation reaches the RBA&#8217;s target faster.<\/p>\n<p>Externally, the bank added that &#8220;heightened geopolitical risks and potential changes to trade and fiscal policies abroad add to this uncertainty.&#8221;<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/11\/05\/australias-central-bank-keeps-rates-unchanged-at-4point35percent.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A pedestrian passes the Reserve Bank of Australia (RBA) building in Sydney, Australia, on Monday, Sept. 6, 2021. David Gray | Bloomberg | Getty Images Australia&#8217;s central bank held its &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=122349\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-122349","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/122349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=122349"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/122349\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=122349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=122349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=122349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}