With US Federal Reserve chair Jay Powell flagging an interest rate cut — just in time to turbocharge Kamala Harris’ surging campaign against Donald Trump — the Reserve Bank of Australia is looking very lonely in its stolid insistence that it could lift interest rates yet again.
The Bank of England has cut rates, the European Central Bank has cut rates, the Reserve Bank of New Zealand (which has clobbered the Kiwi economy into a deep malaise, with annual growth of just 0.2%) has cut rates, while the People’s Bank of China has cut rates twice this year.
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