Reserve Bank Curbs Rate-Cut Hopes
A crucial economic data release in the coming weeks will determine when mortgage holders can expect interest rate relief.
The Reserve Bank is waiting for more economic data to guide its next steps, as it is worried that inflation may be stronger than expected.
This is driven partly by price growth in the services economy, including sectors such as healthcare, finance, and hospitality.
Inflation data for the September quarter, to be released at the end of October, will be crucial to understanding the future direction of Australia's economy.
The central bank is in no rush to cut interest rates again.
Author's summary: Reserve Bank slows rate-cut hopes due to inflation concerns.