Australia Tasa De Interés

Underlying inflation in Australia remained high, according to the Reserve Bank of Australia's September meeting minutes. However, it noted that the headline CPI for August would come in below 3% due to the impact of electricity subsidies. The central bank said monetary policy would need to remain sufficiently restrictive until members were confident that inflation was moving toward the target range of 2-3%. Regarding GDP, output growth was weak, with household consumption falling short of expectations, and the outlook for exports shifting to the downside. In the labor market, conditions were tighter than consistent with full employment but easing as expected. Members also discussed global monetary easing but agreed that domestic cash rates need not move in lock-step with other economies, given stronger inflation and labor market conditions at home and a less restrictive policy stance.