Reserve Bank of Australia Assistant Governor (Economics) Sarah Hunter:
- Q4 GDP largely in line with forecasts
- Recent inflation data also consistent with forecasts
- Inflation the biggest drag on household consumption ( “For some households, interest rate hikes are also challenging and difficult but inflation is the single biggest drag.”)
- Households are clearly struggling at present
Speaking on a panel at the AFR Business Summit.
Where inflation and the cash rate currently sit.
This article was written by Eamonn Sheridan at www.forexlive.com. Source