SYDNEY (Reuters) -Australia’s second-quarter inflation data were very welcome and came in as just the central bank expected, a top official said on Thursday.
At the Barrenjoey Economic Forum in Sydney, Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser reiterated the central bank’s gradual and measured approach to lowering interest rates.
Data showed on Wednesday that consumer prices grew at the slowest pace in over four years in the June quarter, while core inflation hit a fresh three-year low and cemented market wagers for a cut in interest rates next month.
(Reporting by Stella Qiu; Editing by Himani Sarkar)
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