Happy Friday! The Reserve Bank has offered a dose of good news heading into the weekend, just days after it surprised economists by hiking the cash rate.
Inflation is coming down faster than predicted, according to the RBA, with its revised outlook showing the underlying inflation rate will fall to 4% by year’s end – lower than the 4.3% level forecast three months ago. The revision comes as ANZ became the latest big four bank to post a bumper profit courtesy of higher interest rates.
