According to Reuters, when Michele Bullock takes over as the first woman to head the Reserve Bank of Australia (RBA) on Monday, will inherit an economy with moderate inflation, robust employment and continued development.
After aggressively raising interest rates for more than a year, the Reserve Bank of Australia (RBA) has been on pause for three months. Markets expect Bullock to keep rates unchanged at her first meeting as governor next monthand some economists believe his first monetary policy change would be a rate cut.
The RBA raised interest rates by 400 basis points (bp) to an 11-year high of 4.1% in the 13 months to June, while the Consumer Price Index (CPI) slowed from 8.9% in December to 4.9% in July. The central bank forecasts it will be within the RBA’s target band of 2% to 3% by the end of 2025.
Source: Fx Street
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