Statement on Monetary Policy August 2024

Contents

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• In Brief
• Overview
• 1. Financial Conditions
  • 1.1 Interest rate markets
  • 1.2 Other measures of financial conditions
  • 1.3 Australian banking and credit markets
• Box A: Are Inflation Expectations Anchored?
• 2. Economic Conditions
  • 2.1 Global economic conditions
  • 2.2 Domestic economic activity
  • 2.3 Labour market and wages
  • 2.4 Inflation
  • 2.5 Assessment of spare capacity
• Box B: Insights from Liaison
• 3. Outlook
  • 3.1 The global outlook
  • 3.2 Key domestic judgements
  • 3.3 The domestic outlook
  • 3.4 Key risks to the outlook
  • 3.5 Detailed forecast information
• Box C: Headline and Underlying Inflation

The cut-off for data used to prepare the Statement on Monetary Policy was 31 July 2024.

Underlying data for selected graphs. Other data may be available upon request via our general enquiry form.

Some graphs in this publication were generated using Mathematica.

ISSN 1448–5141