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Tarvold

21,913 Posts.

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31/07/24

16:58

Post #: 75010045
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Originally posted by Sailor101: ↑

"RBA will have little choice but to raise. "
For the tragic Amber Rose - from the AFR

Relief rally sweeps market after cool inflation tempers rate fears
Joshua Peach and Sarah Jonesl 31, 2024 – 2.02pm

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4 min

Investors breathed a sigh of relief after Australia’s core inflation measure came in below expectations, prompting traders to rapidly abandon bets of an interest rate increase from the Reserve Bank of Australia next week.
Stocks jumped, the Australian dollar fell, and bonds yields tumbled as money markets wrote off the chance of a move higher from the RBA at its August board meeting and even priced in an 8 per cent chance of a rate cut.
That’s after trimmed inflation – the central bank’s preferred measure of inflation – on an annual basis cooled to 3.9 per cent in the June quarter from 4 per cent. For the quarter, core inflation came in at 0.8 per cent, down from 1 per cent. Consensus was for both figures to hold steady.

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That's what happens when you're so blinded by your bias, you lose all sense of reality.
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