The Reserve Bank of Australia last month decided not to increase the official cash rate, keeping it on hold at 4.1 per cent. It was the fourth consecutive month that the central bank kept the rate unchanged . But could the latest data around inflation, unemployment, and retail spending lead to an increase at the RBA's next meeting? Consumer Price Index figures, released by the Australian Bureau of Statistics last week, showed inflation rose more than expected in the latest quarter.
" While retail spending wasn't "as important" as inflation or unemployment figures in the RBA's decision-making process, it was "still worth looking at", Gross said. Figures released by the ABS last week showed Australian retail sales grew by a robust 0.9 per cent in September - coming in above market expectations of a 0.3 per cent increase and stronger than the 0.3 per cent lift in the month prior.
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