Australias inflationary shock and what it changes
Thursday 27th June 2024
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Yesterday\u2019s inflation number for Australia was a big surprise, pushing up yields, particularly at the front end, and pushing back expectations for cuts by the RBA. Some commentators \u2013 not NAB \u2013 are arguing this reinforces the case for a rate rise. But NAB\u2019s Ken Crompton says travel was a largely responsible for the rise. He also talks about speculation from the RBA\u2019s Chris Kent about the neutral rate, being somewhat higher than many might have expected. This morning\u2019s other big story is the fall in the Yen to a 38 year low, and the response from China.
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