In the second half of 2024, the Australian economy experienced modest growth amid easing inflationary pressures and stabilising interest rates. The Reserve Bank of Australia maintained a cash rate of 4.35%, broadly aligned with long-term averages and hinting at the first potential rate cut in February 2025.
Consumer confidence began to recover, supported by moderating housing costs, tax cuts, and steady wages growth, although bracket creep tempered the impact of tax relief.
Business confidence showed signs of…
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