Rental costs are soaring! Major central banks face stubborn obstacles to curbing inflation

In the US, the UK, Canada, and Australia, rapidly rising housing costs — which weigh heavily in the consumer price index basket — are preventing inflation from falling back to the central bank's target level.

Zhitong Finance23:22 ET

Australian Dollar Loses Ground Due to the Absence of a Hawkish RBA

The Australian Dollar (AUD) has plunged following the Reserve Bank of Australia (RBA)'s decision to maintain its interest rate at 4.35% on Tuesday. Investors sentiment leaned toward a potentially more hawkish stance from the RBA, particularly after last week's inflation data surpassed expectations. However, the RBA acknowledged that recent advancements in curbing inflation have halted, maintaining its forward guidance of "not ruling anything in or out."

FXStreet22:42 ET

Australia's Central Bank Maintains A Cautious Stance Despite Upside Surprises in Inflation, Says SocGen

The Reserve Bank of Australia (RBA) overnight Monday decided to leave the cash rate unchanged at 4.35%, noted Societe Generale.

MT NewswiresMay 7 10:39 ET

Australian Dollar Weakens Following Central Bank's Decision to Keep Cash Rate Unchanged

The Australian dollar lost ground during the European trading session on Tuesday after the Reserve Bank of Australia left its cash rate target unchanged at 4.35%, as expected. AUD/USD was at 0.6617 at

MT NewswiresMay 7 08:58 ET

Interest rates remain the same! Reserve Bank of Australia: Interest rate cuts are not expected until 2025

Inflation expectations raised

Gelonghui FinanceMay 7 05:47 ET

Australian Retail Sales Slip 0.4% in Q1 as Inflation Squeezes Spending

Retail sales volumes declined 0.4% in the March quarter, unchanged from the pace of drop in the final quarter of 2023, Tuesday data from the Australian Bureau of Statistics showed.

MT NewswiresMay 7 05:17 ET