Australian inflation expections have jumped their highest in 9 months

The weekly ANZ / Roy Morgan survey of consumer confidnece tends not to move the Australian dollar upon release, so it pretty much drifts by more or less unmentioned.

However, it also includes measure of inflation expectations. And, given the sticky, high nature of Australian inflation, check this out from the ANZ report:

• Inflation expectations recorded their largest weekly increase in 9 months, rising 0.4pts to 5.2%

The largest jump in 9 months is not something the RBA will welcome. The Bank next meet on August 5 and 6. Today, however, we get the minutes of the most recent meeting, just two weeks ago, preview here:

• The RBA only discussed a rate hike and a hold at the June meeting, not a cut

Minutes due at 0130 GMT / 2130 US Eastern time

This article was written by Eamonn Sheridan at www.forexlive.com.