The latest trimmed mean inflation print came in at 3.2 per cent, down from 3.5. The trimmed data removes volatile aspects of the consumer price index basket, including oil and electricity with power prices currently subsidised by state and federal government policies.
Prior to the announcement, Commonwealth Bank said they were predicting the more important trimmed mean inflation rate to tick down to 3.4 per cent from 3.5 per cent.
Meanwhile AMP chief economist Dr Shane Oliver was predicting the trimmed mean figure to fall to 3.3 per cent.
Capital.com senior financial market analyst Kyle Rodda said prior to the meeting Australian CPI data will colour the outlook for Australian interest rates, with the markets pricing in a roughly 70 per cent chance of a rate cut from the RBA in February.
Feb rate cut and Albo walks it in... end of. Because only the orthodox liberals care about all the other garbage. Do we even have any liberal policies yet? That's right, Communist nuclear electricity that is going to just pluck the astronomical cost magically from tax payers. Any other policies ??????
