Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed’s Williams Signals One More Rate Hike Before Year-End 
BOJ Flags Import Costs and Yen Shocks as Persistent Inflation Risks 
Central Banks Could Buy 20,000 Tonnes of Gold: BofA 
ECB May Stop Rate Hikes After December, Capital Economics Says 
Yen in Focus as BOJ, Fed Rate Hikes Reshape Currency Markets 
Trump Demands Powell Resign Over Fed Renovation Cost Overruns 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
BOJ Set for 25-Basis-Point Rate Hike as Yen Weakness Fuels Inflation 
RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Add as a preferred source on Google
The Reserve Bank of Australia's (RBA) Monetary Policy Meeting Minutes were released today, December 24, 2024. Here are the main points:
The RBA board is feeling more confident about inflation trends since their last meeting, but they also noted that there are still risks involved. They stressed that monetary policy needs to remain "sufficiently restrictive" until they have more certainty that inflation is on track to reach their target.
The RBA has kept its cash rate at 4.35% for the ninth time in a row. Market expectations suggest that the RBA might start cutting interest rates as early as February 2025, depending on upcoming economic data.
The minutes pointed out that economic activity has been weaker than expected, with growth of only 0.8% over the past year. While risks of inflation going up have lessened, the risks to economic activity have increased, leading to a more cautious approach from the bank.
The RBA plans to look at more data and update their forecasts before their next meeting in February, which will be important for deciding on future monetary policy changes.
Overall, the Australian Dollar (AUD) has weakened after the release of these minutes, showing market concerns about possible rate cuts and ongoing economic challenges.
