The ASX falls after the release of the September quarter inflation data, with fuel, electricity and rents behind the higher-than-expected jump, as investors weigh the possibility of a November rate hike by the RBA. Follow live.
An Emergency Warning is in place for Tara, Wieambilla, Goranba, Kogan and Millmerran Woods in Queensland. Keep up to date with
Today's inflation figures were enough for ANZ to shift its thinking on the RBA's rates meeting next month, saying it now"The RBA has also highlighted risks of inflation expectations becoming embedded given ongoing shocks to energy prices, with consumers’ inflation expectations typically being quite responsive to petrol prices," ANZ's head of economics"While an additional interest rate increase will put further pressure on already strained finances across some...
"I was thinking if the number was closer to 1.3% then the Reserve Bank would probably hike, but 1.2% probably does still mean that"They are forecasting inflation to only come down from its target band of 2.5% by 2025, so I think a 1.2% underlying inflation figure still does keep that in line, but itfrom last quarter at 0.9% and it has now got up to 1.2%., which is what governor Bullock has been talking about the past few times she has spoken in recent weeks.
Cattle prices have plunged by up to 64 per cent in recent months and sheep prices by as much as 70 per cent — but retail prices for beef have only fallen by around 8 per cent, leading to frustrated graziers around the country.I'm off now to make final preparations for our inflation story — look out for it shortly after 11:30am AEDT.
After its October meeting, the RBA maintained its expectation that inflation would return to its 2-3% target range by "late 2025".
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