Australia’s latest set of inflation figures have underwhelmed economists, sparking fierce calls for the nation’s central bank to cut interest rates as soon as next month.
Members of Australia’s Reserve Bank Board are strongly considering the prospect of cutting the cash rate should Australia’s economy experience rising unemployment in the absence of rising inflation.
The value of new lending commitments to households was up by 2.6% in February in seasonally adjusted figures, data from the Australian Bureau of Statistics (ABS) shows.