Aussie rate cut likely in August as inflation falls again
The Australian dollar fell, along with bond yields, while the ASX moved higher on the announcement.
The RBA said it expected Q2 inflation to be ‘stronger than forecast’ but the actual figure was lower than market estimates.
Australia’s inflation rate has continued to slow in the second quarter, increasing the likelihood of an interest rate cut by the Reserve Bank of Australia in August.
CPI inflation for the quarter came in under the forecast at 2.1%, down from 2.4% in Q1, while trimmed mean inflation – the RBA’s
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