Australia's Softer-Than-Expected CPI May Keep RBA in Wait-and-See Mode
Dow Jones
Jul 29
0221 GMT - Australia's softer-than-expected inflation data are poised to keep the central bank in a wait-and-see mode on monetary-policy tightening, Capital Economics' Abhijit Surya says in commentary. "With underlying inflation surprising to the downside in Q2, the RBA is unlikely to feel an urgency to hike rates in the near term," the senior APAC economist says. Data released earlier showed 0.6% on-quarter rise in Australia's consumer prices in 2Q, weaker than the 0.7% increase that Capital Economics had expected. CE adds the latest print will likely prompt the RBA to leave rates on hold at its upcoming meeting in August.
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