RBA becomes a lonely rate-cut candidate on Aussie growth doubts
For now, a mixed picture means central bank will likely hold benchmark rate at record-low 1.5% on Tuesday
Sydney
A MONTH can be a long time in economics.
Since the Reserve Bank of Australia's (RBA) last policy decision on May 2, market bets on an interest-rate cut by the end of this year have doubled. While that chance is still only about 20 per cent, swaps traders see Australia as one of just two developed economies where cuts are possible in the coming year after data during May pointed to anaemic growth in the first quarter.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Microsoft bets big on South-east Asia, pledges billions in AI and cloud investments
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up