AU CPI q/q

Lower petrol prices and an electricity rebate have contributed to a further fall in the quarterly measure of inflation, the Consumer Price Index. The rate in the September quarter dropped to 2.8%, putting it for the first time within the Reserve Bank’s target range of two-point-something since the March quarter of 2020. The fall was broadly in keeping with market expectations, and keeps low the likelihood of an interest rate cut this year. The next Reserve Bank meeting is scheduled for Tuesday. The bank pays more attention to the ...

No doubt by now you’ve heard of the better-than-expected June Consumer Price Inflation (CPI) report that was released on Wednesday. The Australian stock market surged to a new high, and both existing and aspiring mortgage holders breathed a sigh of relief – as most economists are now calling the RBA will stand pat when it meets to decide on its official cash rate on Tuesday next week. That’s the key takeaway, a steady cash rate rather than a higher cash rate is good for stocks and good for the economy, because in both cases it ...

On 31 July (at 11:30 AEST) traders will need to prepare for the Australia Q2 CPI print. It is a clear event risk, where the outcome of the inflation print could significantly impact expectations for policy action at the 6 August RBA meeting. By extension, the CPI print holds the potential to promote a knee-jerk reaction in the AUD FX pairs, the AUS200 and ASX200 interest-rate-sensitive equities (such as consumer stocks, banks, and REITS). The RBA has recently guided that the bank remains vigilant to upside risks to inflation, and ...

Australian Treasurer Jim Chalmers says his country is on track for a soft landing as a result of "moderating inflation and a resilient labor market." He also says that the relationship with China can be "complex to manage" but there are "good economic dividends" from engaging with Beijing. Chalmers speaks to Haidi Stroud-Watts on the sidelines of the Morgan Stanley Australia Summit in Sydney.

Interest rates risk going higher still, economists have warned, as stubborn inflationary pressures, rebounding economic growth, and continued tightness in the jobs market could force the Reserve Bank to inflict further pain on household borrowers. While the majority of economists still expect the RBA’s next move will be a cut, Judo Bank chief economic adviser Warren Hogan, who correctly predicted Australia’s interest rate path in 2023, tore up his interest rate forecast on Thursday following a string of firmer-than-expected data. Mr ...

Australia’s inflation rate has fallen for the fifth successive quarter, and it’s now less than half of what it was back in late 2022. The annual rate peaked at 7.8% in the December quarter of 2022 and is now just 3.6%, in the March quarter figures released on Wednesday, leaving it within spitting distance of the Reserve Bank’s 2–3% target. chart But it’s too early for mortgage holders to celebrate. On Wednesday Westpac noted the pace of improvement was slowing and pushed out its forecast of when the Reserve Bank would begin cutting ...