Australia’s economy limps along, but the RBA should take a closer look before raising interest rates again | Greg Jericho
The story of the economy at the moment is one of give and take – and what’s good for investment is bad for trade Get our breaking news email , free app or daily news podcast When the Bureau of Statistics released the GDP figures on Wednesday , the June quarter 0.4% growth figure immediately drew headlines of a rate rise to come, but there is little within the GDP figures that suggests an economy needing slowing.
Prior to the release, the average expectations from banking economists and those throwing a dart at a board was that the economy in June would grow by 0.3%.
In the end it grew 0.4% and brought out the suggestions that the growth was “above expectations” and thus in some way hot and in need of cooling off by another interest rate rise.
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