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Australia's inflation rate is already within the target range, but interest rates may not be cut in the short term!
According to the data released by the Australian Bureau of Statistics on Wednesday, Australia's inflation rate in August is already within the target range of the Reserve Bank of Australia. However, Sean Langcake, Director of Macroeconomic Forecasting at the Australian Economic Research Institute, stated that the rate cuts by other central banks globally have 'little impact' on the Reserve Bank of Australia, and it is expected that the Reserve Bank of Australia will maintain interest rates stable until the second quarter of 2025.
