Australian Dollar: Softer CPI keeps RBA pricing in check – BBH
Elias Haddad at Brown Brothers Harriman notes the Australian Dollar is underperforming after a softer August CPI print weighed on RBA cash rate futures. Headline CPI rose less than consensus, while trimmed mean inflation remained steady for a third month.
The Australian Dollar is struggling to perform well following a softer August Consumer Price Index (CPI) print, which has dampened expectations of further interest rate hikes by the Reserve Bank of Australia (RBA). Brown Brothers Harriman analyst Elias Haddad observed that headline CPI rose less than market expectations, while the trimmed mean inflation remained unchanged for the third month.
This weaker-than-anticipated inflation profile is reducing the likelihood of additional rate increases by the RBA, leaving the AUD lagging behind its peers in the near future.
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