Australian Dollar Firms After CPI Keeps RBA on Tightening Track

6 months ago 1

From forex.com

With Governor Michele Bullock stating that inflation above 3% is “unacceptable”, it is difficult to ignore a backdrop where headline CPI is running at 3.8% and core measures remain at 3.4%. Today’s figures simply reinforce the RBA’s tightening bias. The Board has been clear that returning inflation sustainably to target is the priority. With core inflation steady above the band and price pressures proving sticky, policy is likely to remain restrictive. If upcoming data fails to show convincing moderation, the probability of further tightening later in the year remains live. The RBA is now on a tightening path ... (full story)

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