The data is here from earlier:
Australia's CPI comes in hotter than expected - in NZ inflation pressure remains 'intense'
Some analyst responses:
- ING: Australia: Inflation powers through 7% ... Where does this leave the RBA?
- CBA expect +25bp at the November (1st) meeting and have added in a 25bp hike at the December (6th) meeting (CBA previously forecast a pause in December)
- ANZ expect +25bp in November (not +50bp, because "the RBA will prefer to hike more frequently than shift back to 50bp given the reasoning behind the decision to go 25bp in October") but lift their RBA cash rate peak to 3.85% (previously they had 3.60%)
It's a busy agenda for the Reserve Bank of Australia next week, kicking off with the Tuesday policy meeting:
On those times in the boxes:
- 2.30 pm AEDT is 0330 GMT
- 7.20pm AEDT is 0820 GMT
- 11.30am AEDT is 0030 GMT
If we do get a surprise +50bp hike from the RBA at their meeting (I don't think we will ... then again if I did it wouldn't be a surprise, right?) then Lowe will outline why at his dinner speech that evening, and the SoMP on Friday would provide further reasoning in the form of updated forecasts.
