Unexpected drop in inflation squashes rate rise fears
Prices are rising more slowly than expected, reducing the chance of an interest rate hike in August. This gives households and businesses a break from higher borrowing costs. The unexpected drop in inflation is a relief for those feeling the pinch of rising expenses.
Official inflation figures show prices are not growing as fast as feared by the Reserve Bank, effectively wiping out the chance of an interest rate rise at the bank’s August meeting.
The Sydney Morning Herald
