After today's CPI Westpac maintain their forecast for an RBA rate cut in February

A snippet from the WPAC response to the inflation data out earlier:

• Despite some AUD pass-through, inflation is below the target band and while the headline rate may drift into the band in 2020, it is likely to be transitory.
• there is little pressure on the RBA to have to move to a rate cut this year
• Westpac's forecast for the next rate cut is at the February meeting in 2020.

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Data is here from earlier:

• Australia Q3 CPI: Headline 0.5% q/q (vs 0.5% expected)

And:

• AUD response to Australian Q3 CPI data is up a few tics. Net for the day, little changed.

AUD now drifting back off again. Check out the range for the session - its really not much: