6/15, 5:46 AM (Source: TeleTrader)
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Australian economy turns to expansion - RBA

Reserve Bank of Australia (RBA) said in its latest monetary policy meeting that the nation's economy has ended its recovery period from the coronavirus pandemic and that started expanding.

"Turning to domestic economic developments, members noted that the Australian economy was transitioning from recovery to expansion with more momentum than previously anticipated," the board stated.

In the meeting, members also agreed that the central bank should maintain the 3-year bond yield target until more progress is made towards its employment and inflation goals, reiterating that the bank doesn't see the country achieving sustainable inflation within the target range before 2024.

Breaking the News / NL