TD Securities/Melbourne Institute (MI) Inflation Gauge for August
Comes in at +0.0% m/m and +2.5% y/y
- prior was +0.2% m/m and +2.6% y/y …. 7-month low
- Trimmed mean is -0.1% m/m and +2.7% y/y
The TD Securities/Melbourne Institute (MI) Inflation Gauge is a private measure of inflation, official inflation data comes out in Australia only quarterly.
Comments from TD analyst:
- The RBA continues to express uncertainty about Australia’s economic health once the mining boom ends, hence for tomorrow’s board meeting we expect more of the same “stability in interest rates” and hitting the exchange rate with a feather via “it remains high by historical standards.
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The RBA policy board meets tomorrow (Tuesday 02 September 2014 local time) in Adelaide. Announcement scheduled at 2.30pm Sydney time (0430GMT)
