Despite accelerating headline inflation, Australia’s economy is looking good. The Reserve Bank of Australia (RBA) will likely hold the cash rate at 4.35% at its next meeting on 5 December 2023.
The Aussie dollar struggled a bit during the trading session on Wednesday, as we continue to see a lot of questions asked about the overall global economy.
Investing.com-- Australian consumer inflation fell more than expected in October amid softening retail spending and a cooling labor market, but still remained well above the Reserve Bank of Australia’s target range.