The fall in the Aussie and the rise of the Hawks
NAB Morning Call
00:00
Australia's Inflation Is Looking Sticky in Australia
Australia's inflation was down 5.6% in May, the lowest read since April last year. But when you take out volatile items including travel, it went from 6.5% to 6.4%. Still very, very strong inflationary pressures, and certainly more than what the headline number would have suggested. So we think this data is broadly consistent with the RBA hiking rates further. Probably in our view, they're going to be hiking towards 4.6% with penciled in July and August.
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