-- Australia’s central bank saw the need to remain “vigilant” to upside price risks, even as it left interest rates at a 12-year high last month because recent data hadn’t been sufficient to derail its inflation outlook.‘Upflation’ Is the Latest Retail Trend Driving Up Prices for US ConsumersMinutes of the Reserve Bank’s June 17-18 meeting released Tuesday showed that the board discussed further tightening but decided that the case to leave the key rate at 4.35% was the “stronger one.
Financial market pricing implies a 65% chance of a rate hike to 4.6% this year, though a Bloomberg News survey from June 28 to July 1 showed that majority of economists expect the RBA to keep the cash rate steady in August and throughout 2024.The Australian dollar was a touch weaker at 66.41 U.S cents on Tuesday, staying in a narrow 65.80-67 cents range since early May. Yields on policy sensitive three-year bonds were slightly higher at 4.15%.
The RBA’s goal to preserve recent labor market gains together with mixed economic data were key reasons why the board left rates unchanged. At the same time, the labor market remains resilient, giving policymakers optimism that they can engineer a soft landing — bringing down inflation while holding onto the enormous job gains of recent years.
-- BlackRock Inc. is the latest asset manager to launch an exchange-traded fund that offers a way to ride the stock rally — while hedging 100% of the downside if markets plunge.Most Read from BloombergSupreme Court Says Trump Has Some Immunity, Delaying Trial24-Hour Stock Trading Is Booming – and Wall Street Is RattledDemocrats Weigh Early Biden Nomination to Squash Talk of a SwapBlackRock Buys Preqin for $3.
Entertainment Entertainment Latest News, Entertainment Entertainment Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Source: BNNBloomberg - 🏆 83. / 50 Read more »