0252 GMT - Australia's 2Q CPI data does not contain a red flag for an August interest rate rise, but trimmed mean is still above the top of the 2% to 3% target band, says Alex Joiner, chief economist at IFM Investors. The data is better characterised as grounds for the board to pause and watch how inflation evolves over coming quarters, rather than evidence that any disinflationary trend has resumed, he adds. Importantly, this doesn't lock in the next move as a cut. The RBA's tightening bias remains credible, Joiner says.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.