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VIEW: TD Securities: Not What The Dr. Ordered

RBA

TD Securities note that “Trimmed Mean CPI Inflation well above the RBA's forecasts locks in a 25bps hike next month to a 3.35% target cash rate.”

  • “The RBA has more work to do to get on top of inflation given quarterly CPI data revealed accelerating services inflation.”
  • “We are reluctant to read too much into the stronger monthly Dec CPI print. We stick with our terminal rate call of 3.60% by March.”
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TD Securities note that “Trimmed Mean CPI Inflation well above the RBA's forecasts locks in a 25bps hike next month to a 3.35% target cash rate.”

  • “The RBA has more work to do to get on top of inflation given quarterly CPI data revealed accelerating services inflation.”
  • “We are reluctant to read too much into the stronger monthly Dec CPI print. We stick with our terminal rate call of 3.60% by March.”