Macroeconomics

Australia Q3 Inflation Slows to 3-1/2 Year Low, Core Remains Sticky

October 30, 2024, 08.21 AM | Source: Reuters

ILUSTRASI. People exit the Reserve Bank of Australia headquarters in Sydney, Australia, on Wednesday August 2, 2006. Australia's central bank raised its inflation and economic growth forecasts, leaving room for it to increase interest rates for a third time this year. Photographer: Jack Atley/Bloomberg News.

AUSTRALIA - SYDNEY. Australian consumer price inflation slowed to a 3-1/2 year low in the third quarter thanks to government rebates on electricity and a drop in petrol, while the core measure was still sticky due to elevated services price pressures.

Overall, the report was rather mixed, leaving the Australian dollar little changed at $0.6558. Three-year bond futures were flat at 96.07, and swaps continued to imply little chance of a rate cut by the year end at just 26%.

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