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- AUD: expecting a soft Australian Q3 CPI this week; could increase likelihood of RBA cut in nov - Citi
AUD: expecting a soft Australian Q3 CPI this week; could increase likelihood of RBA cut in nov - Citi
Citi discusses its expectations for this week's Australia Q3 CPI print.
"Despite Q3 typically being a seasonally solid month for Australian CPI, Citi analysts headline CPI forecast is around half the average print at 0.5% to produce a yearly CPI result of 1.06%,unchanged from Q2. Citi's forecast for the more important trimmed mean CPI is 0.4%, leaving it just short of RBA's August SMP forecast," Citi projects.
"With a Q3 underlying CPI result of 0.4%, Citi analysts do not expect the RBA to cut rates at the November Board meeting. However, a result of 0.3% or lower would increase the likelihood of an easing prior to the year-end," Citi adds.
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