Australia maintains a 3.6 % policy rate with inflation crawl

The Australian Central Bank is expected to maintain 3.6 % on Tuesday, as inflation in the country will remain its highest level in more than a year.

The move was in line with the expectations of the economists included in Reuters, and came after the country had informed earlier this month of the rate of enlargement of the main headlines. 3 % for August Top since July 2024 – With the growth of housing, food and alcohol prices.

The central bank has reduced prices by 75 basis points so far this year, after holding it by 4.35 % since November 2023 in its attempt to curb inflation.

in Parliament of the country Last weekand Australian Reserve Governor Michel Bullock has warned that Australia’s economic expectations are “cloudy due to uncertainty.” Pollock said that the receipt of local growth may not continue.

She said: “The global environment is not in particular and is not predictable, but monetary policy is in a good position to respond if it seems that international developments can have a material impact on the Australian economy.”

The economic growth of Australia in the second quarter has expanded expectations, and has expanded its average rate since September 2023, allowing the central bank to retain rates and focus on reducing inflation.

The country’s gross domestic product grew by 1.8 % on an annual basis, which is higher than 1.6 % expected by Reuters economists, stronger than 1.3 % seen in the previous quarter.

On the basis of a quarter of a quarter, GDP in Australia grew by 0.6 %, compared to 0.5 % forecasts in the Reuters poll.

Data from Australian Statistics Office It showed that growth was driven by local spending, including home and governmental consumption.

– This is the breaking news, please check again for updates.