Home » Australia Business Sentiment High, Suggesting RBA Rate Hikes to Tame Inflation – Bloomberg

Australia Business Sentiment High, Suggesting RBA Rate Hikes to Tame Inflation – Bloomberg

by Arifa Rana

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Australia’s business conditions strengthened further in April, while labor costs and output prices remained elevated, a combination that suggests further interest rate increases ahead to rein in inflation.
Business conditions — measuring hiring, sales and profits — advanced to 20 points in April from a revised 15 the prior month, a National Australia Bank Ltd. survey showed Tuesday. Confidence eased by six points to 10, still above the long-run average, NAB said.

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