Australia’s Inflation Data Revealed Soon

  • Australia’s projected headline inflation rate is expected to decrease significantly to 3.4% from the previous 4.1%, potentially impacting trading positions and market sentiment.
  • Traders anticipate a 60% chance of a rate cut by the RBA in December, a likelihood that may shift depending on the actual inflation figure and its deviation from the forecasted 3.4%.

Next week, Australia will unveil its latest inflation figures.   

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Projections suggest a notable dip in Australia’s headline inflation to 3.4%, down from the previous 4.1%, a steep decline that could fail to materialize.   

other advanced economies are poised to outperform Australia in price reduction efforts, with a median inflation rate expected to reach 2% by 2025. “Somewhat worryingly, progress toward inflation targets has somewhat stalled since the beginning of the year”, said Pierre-Olivier Gourinchas, the IMF’s chief economist.   

Traders currently anticipate a 60% likelihood of a rate cut by the RBA in December. However, if the actual inflation figure falls short of the forecasted 3.4%, this expectation may diminish, potentially bolstering the AUD.   

Yesterday’s marginal uptick in the unemployment rate to 3.8% last month suggests that February’s unexpected drop to 3.7% was not an anomaly (Jan’s rate was 4.1%). This development may only make it more difficult for the Reserve Bank to consider initiating rate cuts in the near future. 

    

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