Australia- inflation a bit higher than expected, RBA on hold

In summary from Westpac’s chief economist Luci Ellis, who was previously Assistant Governor (Economic) at the Reserve Bank of Australia:

  • Inflation was a bit higher than expected in the March quarter. It is declining, but it has a way to go for the RBA to be confident of returning to the 2-3% target range on the desired timetable.
  • We expect the Board to keep rates on hold in May, and have pushed out the date of the first rate cut to November this year, previously September.

Earlier on the data and the RBA implications:

The RBA next meet in the first week of May:

This article was written by Eamonn Sheridan at Source