As widely expected, the Reserve Bank of Australia has kept the cash rate on hold this month at 3.60%.
While there’s no movement just yet, many economists see a possible rate cut on the horizon in November.
Monthly CPI figures released by the ABS on 24 September showed inflation remains stubbornly high, tempering expectations for a November cut, with markets now pricing the odds at around 50%.
However, the RBA places more weight on the quarterly CPI, since the monthly indicator only covers about two-thirds of the CPI basket, with key items like utilities and many services updated quarterly.
The next quarterly release is due on 29 October and will be central to the November decision.
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