“Whiplash for Markets as Australian Economy and Data Create Uncertainty Ahead of Policy Decision”
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“The combination of the Reserve Bank of Australia’s actions and economic data has caused significant volatility in markets, leading to uncertainty before the highly anticipated policy decision on Tuesday. Despite resilient retail sales data providing some buffer for the possibility of another rate rise, a surprise drop in consumer inflation has prompted a reduction in expectations for tightening measures. As a result, the chances of a third consecutive quarter point increase on July 4 are now only 1-in-3, with the Australian dollar also at multi-week lows. Considering the uncertainty surrounding the previous rate hike in May, caution and flexibility in market predictions are advised.” [/s2If]
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