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Failure to act on high CPI threatens to damage the Reserve Bank of Australia's credibility

TD says the response to yesterday's inflation data in Australia needs to be an RBA rate hike. Q3 CPI data handily beat the RBA's and analyst forecastsAlong with the Q2 trimmed mean measure being revised up and strong signs of domestic inflation, there is now a clear signal for monetary policy to respond We now expect the RBA to hike 25 bps at next month's meeting to 4.35% on the target cash rateAnd, the kicker:We believe failing to act could harm the RBA's credibilityTD are correct. They should... Read More

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Posted: Oct 26 2023, 02:05

Author Name: forexlive

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