Despite surging commodity prices (#China), all 3 variants of CPI inflation in Australia grossly missed expectations, with the headline figure dropping to the lowest ever of 1.4% annualized.
Aussie tanked instantly on the news as market participants now expect a previously hawkish RBA to ease policy via cutting rates in the near future. So much for a cyclical rebound in raw material prices huh?
Aussie tanked instantly on the news as market participants now expect a previously hawkish RBA to ease policy via cutting rates in the near future. So much for a cyclical rebound in raw material prices huh?