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Core inflation miss reduces likelihood of RBA rate hikes, weakening AUD.
Impact on assets 1
Others
Australia's trimmed mean core inflation rose 0.8% quarter-on-quarter in the second quarter, data from the Australian Bureau of Statistics showed on the 29th, missing market expectations of a 0.9% increase. The annual pace slowed to 3.6%, undershooting both the market forecast of 3.7% and the Reserve Bank of Australia's projection of 3.8%, easing pressure for additional rate hikes. Headline CPI rose 0.6% quarter-on-quarter and 4.0% year-on-year, both decelerating from the previous quarter.
Core inflation miss reduces likelihood of RBA rate hikes, weakening AUD.