Economic distress indicators – December 2023

KPMG has released its final EDI stat pack for the calendar year, with an update for data published since our October release.

In this month’s release, we report that interest rates remained steady at 4.35 percent at the December board, much to the relief of Australia’s 3-4 million variable mortgage holders. This followed news that the inflation rate fell sharply in October, down to 4.9 percent from 5.6 percent in September. Despite these positive signs, Michelle Bullock, Governor of the RBA, has made it clear that returning inflation to target in a reasonable timeframe is still the RBA’s main concern...

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Authors: Gayle Dickerson

Published Date: 18 December 2023