Reserve Bank

India experienced steady inflation during July, remaining within the Reserve Bank’s target range of 2%-6%. This stability supports expectations that policymakers plan to keep interest rates unchanged for some time.

Australian inflation eased to 3.8% in the year to June, reducing the likelihood of an interest rate hike by the Reserve Bank in August. Mortgage holders are described as having 'dodged a bullet' due to the slower-than-expected inflation rate.

New Zealand’s annual inflation accelerated to the fastest pace in more than two years, driven by soaring fuel prices. This development strengthens the case for the Reserve Bank to implement consecutive interest-rate increases.

Malawi's Reserve Bank introduced a new licensing regime for foreign-exchange bureaus to promote transparency. However, the reforms have highlighted ongoing concerns about whether regulatory oversight can address systemic issues of chronic foreign currency scarcity.

Australia's underlying inflation rose to 3.6% annually, driven by factors beyond falling fuel prices, prompting economists to warn that further Reserve Bank rate hikes remain likely. Annual inflation fell to 4% in May due to a 12% drop in fuel prices, but trimmed mean inflation increased, signaling ongoing economic challenges.

Australia's unemployment rate rose to 4.5% in April, the highest level in four-and-a-half years, as employed persons unexpectedly fell by 18,600. The jump suggests the labour market is weakening due to rising interest rates and global oil crisis concerns, likely prompting the Reserve Bank to delay further rate hikes.

The Reserve Bank rate hike has affected not only mortgaged homeowners but also those hoping to break into the property market, making home ownership further out of reach. Property prices are still rising at the entry level and borrowing costs are increasing. This situation is frustrating for would-be homebuyers like Dani Hunterford and her husband.