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The RBA won’t hike again, but cuts pushed into (very) distant future
Slap! A sound that reverberated across the nation at exactly 11:30am EST Wednesday. It was the sound of palms meeting foreheads at the Reserve Bank of Australia. The ensuing headache for RBA officials will likely be ongoing, as they grapple with the conundrum of what to do about very sticky Aussie inflation. For the uninitiated, our RBA has a few main things it’s been tasked to do by the Australian Government. Perhaps the best-known is its inflation target range of 2-3% p.a. Despite the hysterical headlines you’ll see splashed across the mainstream media, yesterday’s worse-than-expected uptick in April’s ... (full story)