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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
Canadian Dollar Skittish on Tuesday Despite Improving Ivey PMI
Canadian Dollar easing but sticking to midrange
FXStreetMay 7 11:48 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