Disaster averted ahead of RBA decision as global oil reserves run low (opens original article in a new tab)

The Australian economy is cooling, with inflation moderating and the RBA considering holding interest rates, aided by a US-Iran truce that reduced oil prices and eased global inflation concerns.

• The Reserve Bank of Australia (RBA) may keep interest rates on hold due to a cooling economy and reduced inflation pressures.
• A truce between the US and Iran led to a drop in oil prices, easing inflation concerns for the Australian government.
• Global oil reserves are at historic lows, increasing the risk of a crisis if tensions persist.