No inflation slowdown, just wishful thinking
NAB Morning Call
00:00
The R B a to Morrow, a 50 Basis Point.
Markets had been pricing some risk of 75 basis points ahead of that m c p data on wed Wednesday last week. But with that data coming in broadly in line with with consensusad and failing to surprise, markets were clearly looking for an upside surprise. So we expect 50 basis points. We wouldn't be totally closed to the risk of a larger move, given that although that m inplasor number came in in it broadly in lineWith expectations, expectations were for a very strong number. There's evidence of a uno broadening of inflationary pressure into more domestically driven parts of the basket as well,. And then a alongside that saw the unemployment rate um drop further and faster than
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