Australia’s inflationary shock and what it changes
A strong response to yesterday’s surprise inflation number for Australia. NAB’s Ken Crompton says travel was a large part of it, but it’s right to assume an even more cautious approach by the RBA.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Thursday 27th June 2024
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Yesterday’s inflation number for Australia was a big surprise, pushing up yields, particularly at the front end, and pushing back expectations for cuts by the RBA. Some commentators – not NAB – are arguing this reinforces the case for a rate rise. But NAB’s Ken Crompton says travel was a largely responsible for the rise. He also talks about speculation from the RBA’s Chris Kent about the neutral rate, being somewhat higher than many might have expected. This morning’s other big story is the fall in the Yen to a 38 year low, and the response from China.
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