The Australian financial press this morning is carrying a few articles regarding yesterday’s below-expectations CPI result, with the Financial Review saying the RBA is no rush to cut at its next meeting, quoting a National Australia Bank economist “A rate cut in May is possible but probably too soon. June looks good for a cut and we still see a second cut later in the year”.
The RBA meets on May 7.
RBA in no rush to act on soft inflation number
–
AUD, meanwhile, had a quiet overnight session, trading to 1.0285/90.
1.0300 had been resistance earlier this week and holds sellers still.
The local Australian market is closed for a holiday today.
