{"id":43976,"date":"2023-12-12T07:39:21","date_gmt":"2023-12-12T07:39:21","guid":{"rendered":"https:\/\/cabanesetcompagnie.com\/?p=43976"},"modified":"2023-12-12T07:39:21","modified_gmt":"2023-12-12T07:39:21","slug":"australia-central-bank-holds-key-rate-at-12-year-high","status":"publish","type":"post","link":"https:\/\/cabanesetcompagnie.com\/business\/australia-central-bank-holds-key-rate-at-12-year-high\/","title":{"rendered":"Australia Central Bank Holds Key Rate At 12-Year High"},"content":{"rendered":"

The Reserve Bank of Australia left its cash rate unchanged at a 12-year high in the final meeting of the year as the impact of the more recent rate hikes continue to flow through the economy<\/span>. <\/p>\n

The policy board of the RBA, governed by Michele Bullock, decided to maintain the cash rate target at 4.35 percent.<\/p>\n

The RBA board also retained the interest rate paid on exchange settlement balances at 4.25 percent.<\/p>\n

At the November meeting, the central bank had lifted the rate by 25 basis points, ending a four-session long pause.<\/p>\n

The RBA has increased its cash rate target by 425 basis points since May last year. The current 4.35 percent is the highest since late 2011.<\/p>\n

The board observed that the limited information received on the domestic economy since the last meeting was broadly in line with expectations. <\/p>\n

Inflation continued to moderate and measures of inflation expectations remain consistent with the target, the RBA said.<\/p>\n

The labor market conditions continued to ease gradually, although they remain tight, the board noted. <\/p>\n

Higher interest rates are working to establish a more sustainable balance between aggregate supply and demand in the economy, policymakers said. <\/p>\n

“The impact of the more recent rate rises, including last month’s, will continue to flow through the economy,” the bank added.<\/p>\n

“Holding the cash rate steady at this meeting will allow time to assess the impact of the increases in interest rates on demand, inflation and the labor market,” the bank said.<\/p>\n

The bank said the case for further tightening of monetary policy to bring inflation back to the target in a reasonable time frame will depend upon the data and the evolving assessment of risks.<\/p>\n

Capital Economics economist Abhijit Surya said it is clear that the RBA remained concerned about potential over tightening. <\/p>\n

Both economic activity and private consumption will slump more sharply in the coming year than widely anticipated, the economist noted.<\/p>\n

The RBA will pivot to policy loosening as early as the second quarter of 2024, Surya added. <\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Reserve Bank of Australia left its cash rate unchanged at a 12-year high in the final meeting of the year as the impact of the more recent rate hikes continue to flow through the economy. The policy board of the RBA, governed by Michele Bullock, decided to maintain the cash rate target at 4.35 percent. The RBA board also […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"yoast_head":"\nAustralia Central Bank Holds Key Rate At 12-Year High - cabanesetcompagnie<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cabanesetcompagnie.com\/business\/australia-central-bank-holds-key-rate-at-12-year-high\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australia Central Bank Holds Key Rate At 12-Year High - cabanesetcompagnie\" \/>\n<meta property=\"og:description\" content=\"The Reserve Bank of Australia left its cash rate unchanged at a 12-year high in the final meeting of the year as the impact of the more recent rate hikes continue to flow through the economy. 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