Economics
Australia’s Core Inflation Breaks Above RBA Target Midpoint
- Money markets pricing in a good chance of rate increase in May
- CBA, Deutsche, TD, RBC, Citi now see first rate rise in August
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Australia’s core consumer prices surpassed the midpoint of the Reserve Bank’s 2-3% target for the first time since June 2014, a surprise that sent bond yields higher and lifted expectations of earlier interest-rate hikes.