RBA leaves rates steady, door open to more tightening
Australia’s central bank kept interest rates at 4.1% a second month in a row and left its economic outlook unchanged.
IGTV’s @AngelineOng investigates why the RBA has also warned that more tightening may be needed to curb inflation.
(Video Transcript)
The Reserve Bank of Australia
Turning to Australia and the Reserve Bank of Australia has kept its interest rates unchanged for a second month in a row. Just showing you the animation, they're keeping interest rates at 4.1%. The Reserve Bank of Australia (RBA) has hike rates by a cumulative 400 basis points since May 2022, up to its highest level in 11 years. Might I add, inflation in Australia?
Like in many parts of the world, is very sticky, slow to 6% in Q2 from the 7% increase recorded in Q1, still well above the RBA's 2 to 3% target.
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