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RBA November Preview
From swissmacroandhistory.substack.com
The RBA faces a familiar dilemma: the labour market is weakening faster than inflation is easing. Whether it cuts in November may now hinge on whether the next CPI release justifies moving before the slowdown deepens. The Reserve Bank of Australia heads into its November meeting with a more complicated policy trade-off than earlier in the year. The labour market is now loosening more visibly, while services inflation remains stubborn. Three cuts have already been delivered since February — from 4.4% to 3.6% — and the question has shifted from whether more easing is needed to how long the Bank can sensibly wait. ... (full story)
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