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Australia May Cut Rate
World Economy

Australia May Cut Rate

Australian consumer prices rose at the slowest annual pace since 1999 last quarter while core inflation remained at a record low, setting the stage for a cut in interest rates as early as next week, CNBC reported. The headline CPI index rose just 1% in the year to June, while key measures of underlying inflation held at 1.5%, all well below the Reserve Bank of Australia’s target band of 2 to 3%. The central bank had already cut rates to an all-time low of 1.75% in May. Many analysts now look for a repeat performance at the RBA’s next meeting on Aug. 2.

 

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