Australia's central bank leaves its key rate unchanged, says inflation 'passed its peak'

Economists polled by Reuters were split ahead of the Reserve Bank of Australia's rate decision — 16 out of 31 respondents predicted a 25 basis point hike and 15 expected it to hold.

The central bank in minutes from its June meeting noted that inflation risks have shifted to the upside.

Economists were split on expectations ahead of the decision, with 16 out of 31 respondents surveyed by Reuters forecasting a hike of 25 basis points and 15 expecting the central bank to hold.S&P/ASX 200The Australia Bureau of Statistics' monthly inflation indicator showed some cooling in the rise of prices atAustralia's monthly inflation indicator peaked at 8.4% in December. The economy's consumer price index rose 7% in the first quarter of 2023.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

CNBC /  🏆 12. in US

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.

Reserve Bank of Australia Preview: A close call, with AUD/USD vulnerableThe Reserve Bank of Australia (RBA) is set to announce its monetary policy decision on Tuesday, July 4 at 04:30 GMT. The market consensus is for the c
Read more »

Reserve Bank of Australia Preview: A close call, with AUD/USD vulnerable🇦🇺 The $RBA is set to announce its decision on interest rates at 0430 GMT 🔁 The consensus is for the bank to keep interest rates unchanged; however, it is a close call 📊 $AUD/USD remains unable to move away from the 0.6700 area Full preview ⏩
Read more »

Reserve Bank of Australia Preview: A close call, with AUD/USD vulnerable🇦🇺 The $RBA is set to announce its decision on interest rates at 0430 GMT 🔁 The consensus is for the bank to keep interest rates unchanged; however, it is a close call 📊 $AUDUSD remains unable to move away from the 0.6700 area Full preview ⏩
Read more »

Asia-Pacific markets set to fall ahead of Australia's rate decisionThe Reserve Bank of Australia is expected to hike rates by 25 basis points, a Reuters poll showed.
Read more »

PIMCO CIO says preparing for 'harder landing' for global economy - FT By ReutersPIMCO CIO says preparing for 'harder landing' for global economy - FT
Read more »