RBA Signals Further Interest Rate Hikes if Inflation Persists, Says Governor Michele Bullock 
PBOC Scraps FX Risk Reserves to Curb Rapid Yuan Appreciation 
BOJ Rate Hike to 1% by June in Focus as Inflation and Weak Yen Pressure Mount 
Australian Central Bank Signals Tough Stance as Inflation Pressures Persist 
Bain Capital Secures RBI Approval to Acquire Up to 41.7% Stake in Manappuram Finance 
Japan Coalition Urges BOJ Independence as Sales Tax Cut Plan Advances 
Central and Southeast Europe Economic Outlook: Hungary, Croatia and Serbia Data in Focus 
ECB Expands Euro Liquidity Backstop to Strengthen Global Role of the Euro 
UBS Boosts Chinese Tech and AI Stocks for 2026 as Sector Eyes Strong Growth 
Latest report shows residents of Australia is availing the benefits of lower rates from Reserve Bank of Australia (RBA), which is at record low of 2%. RBA has reduced rates twice this year so far and held policy steady since May.
- Credit card purchases totaled A$24.4 billion in August, compared to A$24.7 billion in July. This marks third consecutive decline, but still robust compared to A$22.4 billion a year earlier.
Strong domestic economy and relatively stable unemployment rate has given some confidence to RBA to pause rates at a time when decline in commodity prices, such as iron ore, coal has pushed Australia's mining industry and exports to doldrums.
Recently commodity giant Glencore announced it will cut 535 jobs in Australia as it will shut down mines and reduce its zinc production by 500,000 tons.
However recent weakness in US payroll data after US Federal Reserve chose not to hike rates in September has pushed back rate hike expectations well into next year and provided boost to commodity prices as well as commodity currencies.
Australian Dollar is currently trading at 0.735, up from its recent low around 0.694.
