Reserve Bank Curbs Rate-Cut Hopes
A crucial economic data release in the coming weeks will determine when mortgage holders can expect more interest rate relief.
The Reserve Bank is in no rush to cut interest rates again, as it waits for more economic data to guide its next steps.
The central bank is worried that inflation may be stronger than expected, driven partly by price growth in the services economy, including sectors such as healthcare, finance, and hospitality.
Inflation data for the September quarter, to be released at the end of October, will be crucial to understanding the future direction of Australia's economy.
The bank's board said that this data will guide its next steps.
Author's summary: Reserve Bank waits for economic data before cutting interest rates.
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