At its last meeting for 2024, the Reserve Bank of Australia’s board seemed to indicate that it was contemplating a cut in the policy rate within six months.
Weaker-than-expected private sector activity growth, together with softer wage increases, made the board say that it was “gaining some confidence that inflation is moving sustainably towards target”.
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Stephen Miller is an investment strategy advisor to GSFM and formerly a Treasury officer who served on the personal staff of the then-treasurer Paul Keating from 1985 to 1987.
