Economist at UOB Group Lee Sue Ann reviews the latest interest rate decision by the RBA (June 6).
Key Takeaways
Today’s decision by the Reserve Bank of Australia (RBA) to increase the cash rate target by 25bps to 4.10% once again came as a surprise. In justifying the increase, the RBA repeated that ‘inflation in Australia has passed its peak, but at 7 per cent is still too high and it will be some time yet before it is back in the target range’.
The back-to-back surprise from the RBA reinforces our view that it remains in a difficult balancing spot of managing inflation without slowing the economy too much. In this regard, tomorrow (7 Jun)’s GDP figures for 1Q23 will be keenly awaited.
Every meeting in the near term will be live, and very dependent on incoming economic data. The next monetary policy is on 4 Jul, where we see a pause at 4.10%. We think that even if the RBA were to move its cash rate target just a little higher, it is likely to hold off until Aug, when it will have the benefit of the full 2Q22 CPI data release on 26 Jul.
免責事項：本記事で述べられている見解は著者の見解のみであり、Followmeの公式見解を反映するものではありません。Followmeは、提供された情報の正確性、完全性、信頼性について一切責任を負いません。また、書面で明示的に記載されている場合を除き、本記事の内容に基づいて行われたいかなる行動についても責任を負いません。
古いコメントはありません。ソファをつかむ最初のものになりましょう。