January 08, 2025 at 02:02AM
The data is here:
Australian November CPI 2.3% y/y (vs. expected 2.2%)
More:
AUD/USD towards 0.6220 after encouraging CPI data
Comments from Capital Economics in response to the numbers comes via Reuters report:
“The
good news is that measures of core inflation suggest
that
underlying price pressures are indeed easing in earnest”
if the result is replicated in the quarterly CPI
report
due later this month, it would give the RBA greater
confidence
that it is on track to meet its inflation mandate.
“The
upshot is that today’s data raise the risk that the RBA
will
begin its easing cycle earlier than May, as we’re currently
predicting”
RBA 2025 dates:
The 31 march – April 1 meeting is firming up for a 25bp rate cut.
This article was written by Eamonn Sheridan at www.forexlive.com.