Inflation Falls Within Target Range
Australia's inflation rate has come within its target range, but cuts likely won't come anytime soon
The RBA had expected inflation to fall. RBA Gov. Michelle Bullock said that inflation is expected to climb above the target range again when government reliefs expire.
Australian Inflation Rate Slides to 2.7% in August and into the RBA Target Range
Aussie inflation slows to 2.7%, influencing AUD/USD movement. Softer CPI sparks RBA rate cut speculation, with US home sales data key to the pair’s next move.
Inflation officially within RBA's target band
Down from 3.5% in July and marking the lowest reading since August 2021, the monthly data means inflation finally sits within the RBA ’s 2-3% inflation target band. However, the fight against inflation hasn’t been won yet, with the central bank putting less onus on the more volatile monthly figures compared to the quarterly data.
Australia’s Headline Inflation Rate Falls Back to Target
Australia’s headline inflation rate fell within the Reserve Bank of Australia’s target band for the first time since 2021 in August, but economists warn that this won’t trigger an immediate interest-rate cut.
Australia: Inflation Falls Within The Target Range
The headline inflation rate has fallen within the Reserve Bank of Australia’s target range for the first time since October 2021.
RBA holds cash rate despite inflation falling
The RBA last raised the cash rate to 4.35% on November 2023, and with many homeowners holding out for relief, some expect the RBA to make a proactive and popular decision before the holiday season.
Both headline and underlying inflation ‘coming down’ in Australia
Deloitte Access Economics Lead Partner Pradeep Philip says both headline and underlying inflation are “coming down” in Australia.
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