CPI m/m -0.1% vs +0.2% expectedJune trimmed mean 3.6% y/y vs 3.7% expectedAustralian Q2 CPI 4.0% y/y vs +4.1% expectedPrior was 4.1%CPI q/q +0.6% vs +0.7% expected (prior was +1.4%)RBA trimmed mean 3.6% y/y vs 3.7% expectedRBA weighted mean 3.6% y/y vs 3.7% expected
These are slightly cool numbers right across the board and will unwind the modest expectations for a near term rate hike. This is an opportunity for the RBA to sit back and watch for what’s next. In terms of pricing, the market now sees just a 4% chance of a hike in August.
AUD is down modestly on the release.
This article was written by Adam Button at investinglive.com.