The Australian Q2 and June-month inflation data is here:
The results should be enough to lock in an Reserve Bank of Australia rate cut at its next meeting, August 11 and 12. A 25bp interest rate cut is widely expected.
The only cold water I’d throw on this is that expectations were nearly unanimous for a cut at the previous meeting and the RBA did not comply, leaving the cash rate on hold. The usual round of suspects are sayin a cut is assured this time though. Unfortunately I am one of them so I better just shut up now 😉
This article was written by Eamonn Sheridan at investinglive.com.