China’s Services Sector Posts Slowest Growth in Five Months as Demand Softens 
South Korea Inflation Edges Up in November as Food and Service Costs Climb 
U.S. Soybean Shipments to China Gain Momentum as Trade Tensions Ease 
Kazakhstan Central Bank Holds Interest Rate at 18% as Inflation Pressures Persist 
BOJ Signals Imminent Interest Rate Hike Amid Strengthening Economic Conditions 
BOJ Seen Moving Toward December Rate Hike as Yen Slides 
U.S. Futures Steady as Rate-Cut Bets Rise on Soft Labor Data 
Fed Officials Split as Powell Weighs December Interest Rate Cut 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
FOMC Minutes Expected to Reveal Deep Policy Divide as Markets Eye December Rate Cut 
Australia’s Economic Growth Slows in Q3 Despite Strong Investment Activity 
RBA Signals Possible Rate Implications as Inflation Proves More Persistent 
Gold Prices Steady as Markets Await Key U.S. Data and Expected Fed Rate Cut 
Oil Prices Slip as Russia-Ukraine Peace Hopes Fade and Oversupply Fears Grow 
The Reserve Bank of Australia (RBA) is expected to keep its benchmark interest rate unchanged at 3.60% during the September 30 meeting, as inflation remains stickier than anticipated. The central bank has already cut rates by 75 basis points in 2025, but policymakers are now treading cautiously amid signs of persistent price pressures.
Markets will closely watch Governor Michele Bullock’s commentary for clues on future rate cuts. While labor market growth has softened, unemployment remains steady, and second-quarter GDP growth was solid. However, the RBA continues to flag risks from sluggish global demand and trade disruptions.
Stronger-than-expected consumer price index (CPI) readings for July and August have raised expectations for a robust third-quarter inflation print, making a September rate hold the most likely outcome. Analysts at ANZ expect no change in September but see a potential 25 basis point cut in November if data supports easing. Still, they caution that recent inflation spikes could push the RBA into a more hawkish stance. Commonwealth Bank, Westpac, and NAB share similar expectations of a hold this month, though NAB predicts the next rate cut won’t arrive until May 2026.
For markets, the ASX 200 remains in focus after rallying to record highs in August on optimism over easing monetary policy. The index sits just 200 points below its peak. A dovish signal from the RBA could propel the ASX 200 to fresh records, while hawkish rhetoric may trigger profit-taking. Bank stocks, in particular, are seen as beneficiaries of lower rates due to stronger credit demand.
Meanwhile, the Australian dollar has held firm, supported by global risk appetite and stronger commodity prices. AUD/USD recently touched an 11-month high but has since eased slightly. Analysts suggest a cautious but steady RBA stance may lend further support to the currency, especially if rate cuts are delayed.
