Economic Update – “Peak Inflation”

It would seem that the post-covid hangover may be at its end. Yesterday the RBA chose to keep interest rates on hold, a decision that had economists equally split in the lead up, but bond markets were almost certain of it. With inflation now seemingly peaked, we should see interest rates on hold for the foreseeable future in Australia. More detailed economic data is expected during July that will provide the RBA with all that it needs to confirm its policy direction. Meanwhile, the US is edging closer to cutting interest rates and China is continuing to ease monetary policy to spur internal demand.

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