Australia's central bank faces crunch time in resistance to rate cuts
SYDNEY - Australia's central bank is set to come under intense pressure to ease policy in coming weeks as government giveaways to alleviate the cost of living pull consumer prices sharply lower, even as core inflation stays stubbornly sticky.
Desperate to head off the tumult, policymakers have run an extensive jawboning campaign explicitly stating the board was unlikely to cut rates in the near term given upside risks to inflation. This is largely the creation of the Labor government, which is providing A$3.5 billion of rebates on electricity bills to all households and grants to some renters.
RBA Governor Michele Bullock has argued the public will understand that core inflation is what matters and the bank is setting policy"for the long game."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USWNT vs. Australia live updates: U.S. women face Australia in their final group stage testThe U.S. women’s soccer team takes on Australia in the Paris Olympics on Wednesday. Follow along for live updates, scores and results.
Read more »
LA County man faces federal charges for trying to ship a ton of meth to AustraliaOver an 11-month period in 2023, U.S. customs officers inspected seven shipments headed to Australia and found methamphetamine embedded in falsely labeled products.
Read more »
How to watch the Australia vs. U.S. Olympic women's soccer game today: Livestream options, Team USA info, moreUSA women's soccer (USNWT) faces Australia today. Find out how and when to watch the USA vs. Australia game.
Read more »
AEG Presents, Frontier Touring Partner With Australia’s Playbill Group'With all the things the companies have in common the partnership feels natural for both,' Frontier Touring CEO Dion Brant tells Billboard.
Read more »
Indonesia and Australia finalize new bilateral defense treatyIndonesia and Australia have finalized a new bilateral defense treaty that will enhance the neighboring nations’ ability to operate their militaries in each other’s territory.
Read more »
Indonesia and Australia finalize new bilateral defense treatyIndonesia and Australia have finalized a new bilateral defense treaty that will enhance the neighboring nations’ ability to operate their militaries in each other’s territory.
Read more »