Australian data - October consumer inflation expectations 4.0% (prior 4.4%)

The Melbourne Institute Survey of Consumer Inflationary Expectations

October 2024 comes in at 4.0%

• a sharp drop from September's 4.4%

The Reserve Bank of Australia target band is 2 to 3% for inflation.

Current official CPI and cash rates (this from the RBA website):

The most recent communication from the RBA is not dovish:

• RBA minutes: Board discussed scenarios for both lowering and raising interest rates

Later today we'll hear from the Bank:

• AUD note: Reserve Bank of Australia's Assistant Governor Economic Hunter speaks later