Wages only increased by 0.8 percent in the June quarter according to the latest data from the ABS, reducing pressure on the Reserve Bank of Australia to increase rates at its September board meeting.
The Reserve Bank of Australia has held interest rates at unchanged at 4.5 percent for the third month running, with the RBA signaling its plans to hold rates unchanged until 2011.
The Reserve Bank of Australia looks set to rule out an increase in interest rates at its August board meeting after the ABS released it’s June quarter inflation (CPI) data today.
With the Australian Bureau of Statistics’ Producer Price Index figures coming in lower than expected, the chance of the Reserve Bank of Australia increasing interest rates in August has decreased with inflation likely to fall within the target 2-3 percent range tomorrow.
Consumers’ inflation expectations have moderated to 3.3 percent in the July edition of the Melbourne Institute Survey of Consumer Inflationary Expectations.
Economists believe that yesterday’s positive ABS labour force data has increased the possibility that the RBA will look to tighten monetary policy as near full employment triggers inflation pressures.
The Reserve Bank of Australia has decided in it’s monthly board meeting today to leave interest rates on hold at 4.5 percent as it waits on second quarter inflation data from the ABS.
With the Reserve Bank increasing interest rates to 4.5 percent today, is this the last interest rate increase this year? Language in today’s official statement by Glenn Stevens suggests it might be.
The Reserve Bank of Australia has again moved to increase interest rates, taking the official cash rate to 4.5 percent as the Australian economy faces inflation fears as it continues to recover.
The Reserve Bank is likely to increase rates for the sixth time in seven months at its monthly board meeting next Tuesday analysts predict, after inflation data came in higher than expected.
