The economy is losing steam, inflation is beginning to ease and unemployment is up – three trends the Reserve Bank wants to see as it considers a 10th consecutive hike to interest rates.
Australia’s GDP grew 0.5% in the December quarter, slower than the 0.8% tipped by economists, while inflation in January was 7.4% – down from 8.4% in December and short of the 8.1% predicted by economists. Unemployment also rose in January from 3.5% to 3.7%.
