Australian Q2 core inflation +0.8% q/q (expected 1.0%)

This takes a potential Reserve Bank of Australia rate hike at the August 5 and 6 meeting of

The other measure of core inflation is ‘weighted median’:

0.8% q/q

• expected 1.0%, prior 1.0%

4.1% y/y

• expected 4.3%, prior 4.4%

This takes a potential Reserve Bank of Australia rate hike at the August 5 and 6 meeting off the table

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The monthly CPI data from Australia does not show all components of the CPI.

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Background to this data is here:

• Three scenarios to watch for the Reserve Bank of Australia outcome
• Australia Q2 CPI preview – “June CPI should not close the door on a rate cut”

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