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Free AccessThe most important figure is the y/y......>
AUSTRALIA: The most important figure is the y/y measure of headline CPI. A
higher outcome here would be important for three key reasons. The first is that
it would bring CPI into the RBA's target band for the first time in four
quarters.
- Secondly, it would boost prospects for wage growth, as headline CPI has a big
influence on wage expectations. An acceleration in wage growth is extremely
important for the RBA's monetary policy because it would eventually lead to
inflation rising towards the midpoint of the target band, and would also boost
household income and thus their consumption.
- Thirdly, a higher outcome on y/y CPI would also be above the RBA's own
expectation and could potentially lead to an upgrade in CPI forecasts when the
RBA publishes the next quarterly Statement on Monetary Policy on May 4. This
would indicate further progress on the RBA's inflation goal and boost the case
for a rate hike. (MNI - For Full Story See Main Wire At 22:12 BST 04/23)
To read the full story
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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.