The numbers that drive our future
High inflation "hurts everyone" but especially those on low and fixed incomes, RBA governor Michele Bullock stressed following a sluggish economic growth report.
Apart from COVID, economic growth is at its the slowest since 1991/92 when Australia was gradually recovering from the 1991 recession.
Economists say the slowdown was largely expected and won't persuade the RBA to cut interest rates any time soon.
The RBA seriously considered an increase to the cash rate in August and has warned cutting them in 2024 could keep inflation above its target until mid-2027.
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