This revision comes amid signs of economic weakness in Australia. The March 2025 quarter saw GDP growth slow to 0.2%, with per capita GDP contracting for the ninth time in eleven quarters. Factors such as subdued consumer spending, adverse weather events, and global uncertainties have contributed to this slowdown.
Market expectations align with TD Securities' outlook, with many economists forecasting multiple rate reductions by early 2026 to support growth. However, the RBA emphasizes that any policy adjustments will be data-dependent, balancing the need to control inflation with the goal of sustaining economic growth.
The Reserve Bank of Australia cut at its May meeting. The next meeting is scheduled for July 7 and 8.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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