Traders Boost Bets on RBA Rate Cut Pivot as Inflation Cools More
- Inflation cooler than expected, has slowed for four quarters
- Currency, bond yields decline on expectations of easing ahead
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Australia’s headline inflation cooled further in the final three months of 2023, reinforcing the case for the Reserve Bank to keep interest rates unchanged next week and sending the currency and bond yields lower.
The consumer price index advanced 4.1% from a year earlier, coming in below economists’ estimate of 4.3%, the slowest pace in two years, government data showed Wednesday. A closely watched core inflation gauge — the trimmed mean — rose 4.2%, also less than forecast.