Australia's Inflation Drops, Boosting Prospects for Rate Cut
TL;DR Summary
Australia's inflation rate in Q2 dropped to 2.1%, the lowest since March 2021, supporting the case for a rate cut by the Reserve Bank of Australia, which has already reduced rates twice this year. Despite the lower inflation, the RBA has kept rates steady at 3.85%, citing strong inflation indicators and labor market conditions, but analysts expect a rate cut in August due to global economic slowdown and rising unemployment.
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