On November 27, Gelonghui reported that uob economists indicated that it is unlikely that australia will cut interest rates before the first quarter of 2025. This follows the inflation data from October, which shows that core inflation remains high. Economist Lee Sue Ann stated that the overall CPI decline may be temporary, as it is partly due to one-off subsidies, while the underlying inflation rate is still above the reserve bank of australia's target of 2%-3%. Furthermore, the labor market in australia remains strong, with the unemployment rate stabilizing for the third consecutive month in October. Earlier this month, the reserve bank of australia expressed a desire to see a substantial and prolonged decrease in inflation, suggesting that the bank may hold its position for now.