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      Australia's Preliminary PMIs Set for Release Ahead of Expected RBA Rate Hike

      Australia's preliminary S&P Global purchasing managers' indexes (PMIs) for September are scheduled for release on September 23, 2026, at 23:00 GMT. This data comes just days before a widely anticipated interest rate hike by the Reserve Bank of Australia (RBA). August's final PMIs indicated continued growth in the private sector, albeit at a slower pace compared to July. The services PMI decreased to 53.2 from 53.6, while the manufacturing PMI remained steady at 52.0, indicating ongoing expansion in both sectors.

      The composite PMI fell to 52.7 from 53.2, with underlying details suggesting inflationary pressures. The August flash survey revealed rising input costs driven by increased fuel, freight, and raw material prices, alongside modest hiring and a slight rise in outstanding work. Growth in manufacturing was primarily supported by domestic output and new orders, although export demand remained weak.

      The RBA currently maintains a cash rate of 4.35%, following a series of increases earlier in 2026. All four major Australian banks predict a 25 basis point hike to 4.60% during the RBA's upcoming meeting on September 29. The focus for the September flash data will be on price components, as strong cost and selling-price indicators could bolster the case for tightening monetary policy. Conversely, a notable slowdown in services activity or hiring may influence discussions regarding future rate adjustments.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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