Reserve Bank Curbs Rate-Cut Hopes
The Reserve Bank has revealed it is in no rush to cut interest rates again, as it waits for more economic data to guide its next steps.
The central bank is concerned that inflation may be stronger than expected, driven partly by price growth in the services economy, including sectors such as healthcare, finance, and hospitality.
Upcoming economic data, including inflation data for the September quarter to be released at the end of October, will be crucial in determining the future direction of Australia's economy.
The bank's board is waiting for more economic data to guide its next steps.
Author's summary: Reserve Bank delays interest rate cuts.