Australia's Economy Grows 2.1%, Inflation Surges

Australias economy grew by 2.1% annually, marking the strongest growth since 2023, but fell short of predictions. Quarterly growth was 0.4%, also below forecasts. The Reserve Bank of Australia, led by Governor Michele Bullock, is closely monitoring the economy, with some suggesting the growth cycle may be nearing its end. Inflation reached 3.8% year-on-year, the fastest pace in seven months, adding complexity to the economic outlook. The Reserve Bank is expected to keep interest rates steady at 3.6% when they meet next week.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.