{ "story_id": "46ab4cefbe474f9143bb49edf343de9d", "desk": "drm3", "revision": 1, "published_at": "2026-09-02T05:02:25.000Z", "content_hash": "7bcc79342bfa737f0063759a15793ad0378d09c0a34be3891685097bfbb8bfda", "hash_basis": "sha256 over `headline\\ndek\\nprose`, plus `\\n` + the canonical citations JSON when any source is placed, plus `\\n#blog` for blogs", "basis": { "headline": "Australia's Economy Beats Forecasts, Boosting RBA Rate Hike Odds", "dek": "Australia's economy grew 0.4% in the June quarter, exceeding forecasts and raising the likelihood of an RBA rate hike.", "prose": "Australia's economy grew by 0.4 per cent in the June quarter, according to the latest Australian Bureau of Statistics National Accounts. [^1]\n\nThe annual economic growth rate to June 30 reached 2.1 per cent, seasonally adjusted. [^2]\n\nThe Australian Bureau of Statistics reported on Tuesday that Australia's current account deficit grew to A$27.22 billion in the June quarter, up from a revised A$25.45 billion deficit in the prior quarter. [^3]\n\nAustralia's 10-year government bond yield rose 0.7% to 5.223% on Wednesday, reaching a 15-year high, after Q2 GDP data strengthened the case for further Reserve Bank of Australia rate hikes. [^4]\n\nEconomists had forecast a quarterly rise of 0.3 per cent and annual economic growth of 1.8 per cent. [^5]\n\nTraders have pushed up the odds of a September rate hike by the Reserve Bank of Australia to about 60 per cent. [^6]\n\nAustralia logged a A$5.1 billion deficit in the balance of goods and services, with imports rising past exports due to persistently higher oil and gas prices. [^7]\n\nEconomists polled by Reuters had estimated the second-quarter growth rate at 1.8%. [^8]\n\nThe Reserve Bank of Australia indicated that the stronger-than-expected GDP print allows them to proceed with policy tightening to curb inflation. [^9]\n\nThe slight growth was driven by private demand and mining exports. 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