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ECO043 Quarterly economic update: Oct-Dec 2024 (606 words)
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ECO043.docx
Description
Quarterly economic update for the final quarter of 2024. Covers off key data on interest rates, cost of living and economic forecast for 2025.
Introduction
The final quarter of 2024 reflected a mixed economic landscape. While consumer spending and equity markets showed resilience, persistent inflation, cost-of-living pressures and a cooling housing market have tempered optimism.
Interest Rates – Will They Rise or Fall?
Inflation in Australia showed signs of easing during the final months of 2024, with the trimmed mean inflation rate falling to 3.2% in November, down from 3.5% in October. The RBA held the cash rate steady at 4.35% during its December meeting, emphasising the need to maintain current policy settings to bring inflation back within the target range over time.
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