Australia's September TD-MI inflation index increased slightly to 2.6% year-on-year in the 'Economy' magazine.
According to the joint announcement by TD Securities and Melbourne Institute (MI), the Australian September TD-MI inflation index increased slightly to 2.6% year-on-year, up from the previous 2.5%. It rose by 0.1% month-on-month, compared to a 0.1% decrease in the previous period.
IMF supports australia's central bank's high interest rates and warns that further rate hikes may be needed.
The International Monetary Fund (IMF) supports the Reserve Bank of Australia's tough monetary policy and warns that if the anti-inflation struggle stalls, interest rates may need to be raised again. The IMF states: "Recent policies should continue to focus on promoting economic growth while reducing inflation." The Reserve Bank of Australia believes that "continuing to take a restrictive monetary policy stance aimed at combating persistent inflation is appropriate." The report states: "If the anti-inflation efforts stall, further tightening of policy may be necessary." and points out: "Potential price pressures remain high", referring to rent, new homes, and insurance.
IMF: if the anti-inflation process stalls, Australia needs to implement fiscal austerity.
Gelonghui October 3rd | The International Monetary Fund (IMF) completed the fourth consultation with Australia. IMF pointed out that if the anti-inflation process stalls, Australia needs to implement fiscal tightening. IMF urges Australia to adopt a comprehensive approach to addressing housing affordability issues and supports the decision of the Reserve Bank of Australia to maintain a restrictive policy stance. According to Article IV of the IMF Agreement, IMF typically holds an annual bilateral discussion with member countries.
Here's When Westpac Says the RBA Will Now Cut Interest Rates
KaiTuo Macro: Australia's Reserve Bank's first interest rate cut forecast has been brought forward from May next year to February.
Gelonghui September 27th | Capital economist Su Liya said that although the Reserve Bank of Australia kept the official cash rate unchanged at 4.35% at this week's policy meeting, it did soften its hawkish stance to some extent. Governor of the Reserve Bank of Australia, Blok, revealed that the committee did not have a "clear" discussion on rate hikes as in previous meetings. Su Liya said that due to the latest CPI data showing a significant slowdown in potential inflation in the third quarter, the bank has brought forward its forecast of the Reserve Bank of Australia's first rate cut from May next year to February. However, he added that considering the tight labor market, this timeline seems a bit too optimistic.
Express News | Australian Treasurer: China's latest stimulus measures are expected to boost the Australian economy.