New Overnight Developments Abroad - Daily Update
Sobering Forward Guidance on Australian Monetary Policy
May 7, 2024
Analysts hadn’t expected a cut today in the Reserve Bank of Australia Official Cash Rate, which has been at a 22-year high of 4.35% since a 25-basis point rate last November, but the rate announcement‘s tone and Governor Bullock’s press conference proved surprisingly hawkish. While inflation is easing, it is doing so more slowly than […] More
