National Australia Bank monthly survey of business, for October 2024
Business Confidence +5, highest in nearly two years
Business Conditions +7
more to come
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A persistently high cash rate, in order to combat sticky inflation, is a headwind for many businesses.
The Reserve Bank of Australia target band for inflation is 2 to 3% (that’s an ‘in a nutshell’ description). The most recent official headline rate is 2.8%, as seen in the pic above. Most analysts expect this to rise once government subsidies, ‘cost of living’ support, roll off.
