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 are available to download: August 2024 Statement on Monetary Policy – available data. Other data may be available upon request via our general enquiry form.

Some graphs in this publication were generated using Mathematica.

ISSN 1448–5141