-- Australia’s central bank resumed a discussion of interest-rate hikes at its May policy meeting before deciding that the case to stand pat was stronger as it aims to avoid “excessive fine tuning.”Jamie Dimon Says Succession at JPMorgan Is ‘Well on the Way’Minutes of the Reserve Bank’s May 6-7 gathering showed the board discussed two options when it left the key rate at 4.
“Members agreed that it was important to convey that recent data and other information had signaled that the risks around inflation had risen somewhat,” Tuesday’s release showed. “It was difficult either to rule in or rule out future changes in the cash rate target.” A private report released earlier Tuesday showed consumer confidence edged lower this month over worries that persistent inflation will prompt the RBA to hike again.At the same time, the labor market remains resilient, giving policymakers optimism that they can engineer a soft landing — bringing down inflation while holding onto the enormous job gains of recent years.
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