Australia’s Strong Economic Growth Keeps Rate Hike in Play
Australia’s economy accelerated in the final three months of last year and showed broad-based momentum, reinforcing price pressures and keeping the door open to further Reserve Bank interest-rate hikes.
Gross domestic product advanced a solid 0.8% last quarter, matching estimates, while the prior three months were revised higher, government data showed Wednesday. The 2.6% annual expansion was better than a forecast 2.3% and the fastest pace in almost three years.