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- Australian Treasurer Chalmers: Recognize the cost-of-living burden
Australian Treasurer Chalmers: Recognize the cost-of-living burden
Responding to a sharp jump in Australia’s inflation to a new 21-year high in the 2021/22 financial year, the country’s Treasurer Jim Chalmers said that he recognizes the cost-of-living burden on households.
Chalmers is due to deliver a "confronting" economic statement to the nation on Thursday and has promised Australians the government is on the case to tame inflation.
Market reaction
At the time of writing, AUD/USD is attempting a bounce to near 0.6930, having dropped to 0.6913 lows after the Australian CPI data doused hopes for a 75 bps RBA rate hike in August. The spot is down 0.08% on the day.
- RBA seen hiking rates by 50 bps in August after headline inflation miss – Goldman Sachs
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