Original article by Patrick Commins
The Australian – Page: 2 : 19-Jul-23

The minutes of the Reserve Bank of Australia’s board meeting for July show that it considered a 25 basis point increase in the cash rate. The board also discussed the possibility that growing pressure on households’ budgets could result in consumption slowing more sharply than the current forecasts suggest. This would in turn result in slower demand for labour, while the unemployment rate would most likely rise beyond the rate required to ensure that inflation returns to the target range of 2-3 in a timely manner. National Australia Bank’s senior economist Adam Boynton expects interest rates to remain on hold, although he says a rate rise in August is still a possibility.

CORPORATES
RESERVE BANK OF AUSTRALIA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB