Australia CPI Beats Estimates; RBA Stays Hawkish
Australia's Q3 CPI came in hotter than expected at +4.3% YoY and core trimmed mean at 3.7% YoY above forecasts, with RBA Governor Bullock warning the inflation outlook has 'deteriorated' and flagging oil prices and tight labor markets.
What we know
A torrent of an account on X updates confirmed the beats: headline CPI +1.3% QoQ vs. 1.2% est., +4.3% YoY vs. 4.2% est. Core trimmed mean hit 3.7% YoY, above the 3.6% poll. RBA Governor Bullock delivered a hawkish barrage: inflation outlook has deteriorated, labor market tighter than estimated, oil prices a significant risk, and crucially said she cannot signal the board's next decision. The AUD rose 0.4% to $0.7053 immediately after the release. RBNZ separately held at 2.75% the same session.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.