- Analytics
- News and Tools
- Market News
- Australia: RBA holds OCR steady – UOB Group
Australia: RBA holds OCR steady – UOB Group
As expected, the Reserve Bank of Australia (RBA) decided to leave its cash rate target unchanged at a 13-year high of 4.35%, UOB Group’s economist Lee Sue Ann notes.
First rate cut may not arrive until February meeting in 2025
“The Reserve Bank of Australia (RBA) kept rates at a 13-year high of 4.35% earlier today (5 November), as expected, and continued to emphasize ‘the need to remain vigilant to upside risks to inflation’.”
“The trimmed mean measure of inflation that the RBA pays most attention to will ease slightly faster than predicted, touching the top end of its 2%-3% band by Jun 2025 and reach the mid-point of 2.5% by the end of 2026.”
“There is still the possibility that the first rate cut will not arrive until its February meeting in 2025, if the RBA chooses to wait for the 4Q24 CPI print, due for release on 29 January 2025. In the meantime, we will continue to keep watch on upcoming data releases, including 3Q24 wage data (13 November); October labour market data (14 November), as well as monthly inflation readings for Oct (27 November).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
