RBA on hold in September and Q2 23 GDP

 

In this podcast, we discuss the RBA’s most recent cash rate decision and the latest economic growth figures. The RBA kept the cash rate unchanged at 4.1% at their September Board meeting. This was the third consecutive on-hold decision, although the RBA continued to retain a tightening bias. The RBA seem comfortable that interest rate hikes are working to slow aggregate demand and inflation in the economy, and their concerns around the outlook for the Chinese economy are growing. Also this week, the ABS released the National Accounts data, showing the economy grew by 0.4% in the June quarter. Household consumption and dwelling investment were soft, and growth was driven by the public and external sectors.

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