0209 GMT - Australia's July CPI remained sticky, with trimmed-mean inflation unchanged at 3.6% year over year and headline inflation easing less than expected to 3.5% from 3.8%. The data reinforce upside inflation risks and are likely to outweigh last week's softer employment report, says Wee Khoon Chong, senior APAC market strategist at BNY. However, the CPI print alone is unlikely to trigger a policy response by the Reserve Bank of Australia at itsSeptember policy meeting, he adds. Expect the RBA to maintain that policy remains somewhat restrictive, while reiterating upside inflation risks and its readiness to act if needed, he says.
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