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24 Apr 2013
Australian CPIs softer-than-expected
FXstreet.com (Barcelona) - The Australian consumer price index series came at the lower end of expectations, with the first quarter price inflation standing at +0.4% QoQ vs +0.7% expected. On a yearly basis, +2.5% YY vs +2.8% expected was the read.
The 'core' also known as RBA trimmed mean CPIs (QoQ) came at +0.4% vs +0.5%, while on a year-to-year basis, +2.3% was the print vs expectations of +2.4%.
The CPI in Australia today is a component out of many others that may strengthen the chances of an RBA interest rate cut further down the road, something that, as Greg McKenna, CEO at Global FX has stated earlier today, "the interest rate markets have started to price in over the past week or so."
The 'core' also known as RBA trimmed mean CPIs (QoQ) came at +0.4% vs +0.5%, while on a year-to-year basis, +2.3% was the print vs expectations of +2.4%.
The CPI in Australia today is a component out of many others that may strengthen the chances of an RBA interest rate cut further down the road, something that, as Greg McKenna, CEO at Global FX has stated earlier today, "the interest rate markets have started to price in over the past week or so."