-
Policy
Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM POLICY: -
EM Policy
EM Policy
Exclusive interviews with leading policymakers that convey the true policy message that impacts markets.
LATEST FROM EM POLICY: -
G10 Markets
G10 Markets
Real-time insight on key fixed income and fx markets.
Launch MNI Podcasts -
Emerging Markets
Emerging Markets
Real-time insight of emerging markets in CEMEA, Asia and LatAm region
-
Commodities
Commodities
Real-time insight of oil & gas markets
-
Credit
Credit
Real time insight of credit markets
-
Data
-
MNI Research
Actionable insight on monetary policy, balance sheet and inflation with focus on global issuance. Analysis on key political risk impacting the global markets.
-
About Us
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
Real-time Actionable Insight
Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.
Free AccessCPI Data Shows Recent Pressure Points Easing
Feb Australian CPI saw a decent downside miss, printing at 6.8% y/y, versus 7.2% y/y forecast and 7.4% prior. Today's outcome is a decent down step from the recent peak of 8.4% recorded in December last year. At face value this it suggests we should see y/y momentum in the quarterly series ease, see the chart below.
- The ABS's measure which excludes volatile items (fruit and vegetables and automotive fuel) fell to 6.9% y/y from 7.5% in Dec. The ABS also noted that a measure excluding holiday and accommodation eased to 6.6% y/y from 6.8%.
- This travel related sub component, recreation, saw the biggest down step in y/y momentum to 6.4% y/y from 10.2%.
- Other sub categories were mixed, but recent inflation pressure points like food and housing recorded lower y/y momentum compared to January.
- Today's result, coupled with yesterday's as expected retail spending outcome, should be enough to offset the resilient business survey backdrop and strong jobs data in terms of next week's RBA decision. All in all, today's data supports the case for a pause next week.
Fig 1: AU CPI Y/Y Momentum Looks To Have Peaked
Source: MNI - Market News/Bloomberg
To read the full story
Sign up now for free trial access to this content.
Please enter your details below.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.