Australian shares are poised to drop sharply at the open. ASX futures were down 81 points or 1 per cent to 7693 near 8am AEST. The sluggish open comes after Wednesday’s inflation data topped expectations at 4 per cent for the year to May.
NAB economists have revised their RBA outlook to now expecting the RBA to remain on hold for longer, with a first rate cut now unlikely until May 2025.
