Interest rates may have to rise again across the Tasman

Australia is worried about the return of inflation. (Image: Supplied)

Wed, 12 Jun 2024

By James Glynn Australian businesses reported a reacceleration in inflation pressures in May despite the backdrop of a lifeless economy.The results of the latest monthly survey of firms by the National Australia Bank (NAB) paint the worst of worlds for the Reserve Bank of Australia, which may need to raise interest rates further before it can claim victory over inflation.Business confidence fell 4 index points to minus 3 in May from April, while NAB’s business conditions index fell 1 point to 6 index points over the same period.Most...

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