Australia's economy experienced a significant slowdown in the fourth quarter of the previous year, with inflation dropping to a two-year low. These latest figures have raised expectations for potential interest rate cuts by the Reserve Bank of Australia (RBA) in the near future.
According to the latest data released by the Australian Bureau of Statistics (ABS), the country's consumer price index (CPI) rose by just 0.4% in the fourth quarter, which is below market expectations and a significant decline compared to the 0.7% increase recorded in the previous quarter. This marks the lowest reading since the third quarter of 2016.
