Reserve Bank of Australia Lifts Cash Rate 0.25% to 4.35%
Reserve Bank of Australia Lifts Cash Rate 0.25% to 4.35%
The Reserve Bank of Australia has decided to lift the cash rate again — upping it by 25 basis points to 4.35% for November, as widely anticipated. The reason for this decision is that inflation remains too high, causing stress on household budgets and businesses, and sits well outside the central bank's target band of 2% to 3%.
澳大利亞儲備銀行已決定再次提高現金利率——正如人們普遍預期的那樣，11月份將現金利率上調25個點子至4.35％。做出這一決定的原因是，通貨膨脹率仍然過高，給家庭預算和企業帶來壓力，遠遠超出了央行的2％至3％的目標區間。
The statement: “Inflation in Australia has passed its peak but is still too high and is proving more persistent than expected a few months ago. The latest reading on CPI inflation indicates that while goods price inflation has eased further, the prices of many services are continuing to rise briskly.
聲明說：“澳大利亞的通貨膨脹率已經過峯值，但仍然過高，並且比幾個月前的預期更加持久。消費者價格指數通脹的最新數據表明，儘管商品價格通脹進一步緩解，但許多服務的價格仍在繼續快速上漲。
“While the central forecast is for CPI inflation to continue to decline, progress looks to be slower than earlier expected. CPI inflation is now expected to be around 3.5% by the end of 2024 and at the top of the target range of 2 to 3% by the end of 2025.
“儘管核心預測是消費者價格指數通脹率將繼續下降，但進展似乎低於先前的預期。現在，預計到2024年底，消費者價格指數通脹率將達到3.5％左右，到2025年底將達到2％至3％的目標區間的最高水平。
“The board judged an increase in interest rates was warranted today to be more assured that inflation would return to target in a reasonable timeframe.”
“董事會認爲，今天有理由提高利率，這樣可以更確信通貨膨脹將在合理的時間範圍內恢復到目標。”
“Given that the economy is forecast to grow below trend, employment is expected to grow slower than the labour force and the unemployment rate is expected to rise gradually to around 4.25%. This is a more moderate increase than previously forecast. Wages growth has picked up over the past year but is still consistent with the inflation target, provided that productivity growth picks up.”
“鑑於預計經濟增長將低於趨勢，就業增長速度預計將低於勞動力，失業率預計將逐漸上升至4.25％左右。這比先前預測的增長更爲溫和。在過去的一年中，工資增長有所回升，但前提是生產率增長有所回升，仍與通貨膨脹目標一致。”
What has changed: This is the first interest rate rise since July and follows alarmingly high price growth for the three months through September and strong retail sales numbers.
發生了什麼變化：這是自7月以來首次加息，此前截至9月的三個月中物價增長驚人，零售銷售數據強勁。
What next: The RBA will hold its next policy meeting in December, the last opportunity to act on rates before an extended break over the summer. The central bank will update its full quarterly economic projections on Friday.
下一步該怎麼做：澳洲聯儲將在12月舉行下一次政策會議，這是夏季延期休會之前對利率採取行動的最後機會。央行將在週五更新其完整的季度經濟預測。