Economic Outlook

Outlook 

Australia’s economy seems resilient judging by the solid results for business surveys and retail spending. There are also some early signs that inflation pressures are starting to peak with CPI annual inflation edging down from 7.3% in September to 6.9% in October. However, looming increases in retail electricity and gas prices as well as higher rents and wages suggest that the inflation threat is still troubling. The Reserve Bank raised the cash interest rate by a further 0.25% to 2.85 % in November and signaled the expectation to increase interest rates further over the period ahead.

Article written 5 December 2022.

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