Reserve Bank leaves official cash rate on hold at record low 0.1%, but brings economic projections forward meaning interest rates likely to rise sooner than 2024
The Reserve Bank of Australia has sent its strongest signal yet that the emergency measures it introduced to support the economy during the Covid pandemic will now be wound back, paving the way for an earlier than expected interest rate rise.
The country’s central bank declared that “a bounce-back is now underway” after the Delta Covid-19 outbreaks, with companies now hiring and the job rate set to trend lower for the next couple of years.
Continue reading...source https://www.theguardian.com/australia-news/2021/nov/02/rba-flags-earlier-interest-rates-rise-as-economy-bounces-back-from-covid-lockdowns
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