Do we really have to wait 3 months to get the next CPI reading from Australia? (No ...)

The official CPI data comes out once  quarter in Australia

But, each month we get an inflation measure from the Melbourne Institute.

Yesterday we got (post is here, but to save you a click...):

• 0.2% m/m (prior 0.4%)


• & 1.5% y/y (prior 1.3%)

I hadn"t added in the "core" measures to that post, here they are now:

• The trimmed mean from the gauge was flat on the month (0.0% change m/m) and +0.9% y/y

Both very subdued indeed.

Only posting this as there is an RBA meeting today, and while I expect "no cut" will be the decision, the low inflation results are an argument that could be used for a surprise cut.

Load of RBA previews:

• The latest Bloomberg survey (28 respondents) has 22 on hold and 6 looking for a 25 bp cut. Market pricing indicates the probability of a cut at around 5%


• Chocolate + Peanut Butter = Reeses cup. RBA + BOJ = AUDJPY (That"s from Greg, who is obviously very focused on candy today)


• RBA preview from BNP


• RBA decision ahead. AUDUSD technical levels to eye. (Again from Greg, before he o/d"ed on sugar)


• RBA meet Tuesday - what to expect (part 2 - this bank calling a rate cut)


• RBA meet Tuesday - what to expect (part 1 - no change)

Oh yeah, Bank of Japan announcement today also. Previews:

• Key area looms above through the BOJ statement


• Sumitomo Mitsui analyst sees BOJ on hold (yen views too)


• Bank of Japan preview from BNP (and USD/JPY target)

Do we really have to wait 3 months to get the next CPI reading from Australia? (No ...)
Do we really have to wait 3 months to get the next CPI reading from Australia? (No ...)
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