Local Fairfax press collating some responses:

In brief ... any bolding is mine

Michael Blythe, CBA:

  • The low inflation story remains in place ... we've kind of ended up at the 1.5 per cent mark that we expected to see, which is around about where the RBA expected it to be as well.
  • I don't think there's any immediate implications for monetary policy there.

Su-Lin Ong, RBC Capital Markets

  • It is broadly in line with the RBA's own forecast and they are unlikely to change their near or medium-term inflation forecast in the next quarterly statement mid-February
  • Consistent with a very mild easing bias,
  • The print today is no trigger
  • We still have a (rate) cut in the second quarter

Shane Oliver, AMP Capital Investors:

  • It keeps the prospect of another rate cut well and truly alive
  • I don't think the RBA will cut in February. We are thinking more likely in May
  • Since the last RBA meeting in December where they left rates on hold, we have seen a negative GDP number and we have now seen a lower inflation number
  • All of that suggest that the Reserve Bank will probably have to revise down its growth and inflation forecasts
  • That is ultimately consistent with another rate cut to come

David de Garis, NAB:

  • Underlying inflation is tracking right in line with the RBA's forecast
  • I don't think the Reserve Bank will be rushing ....they certainly wouldn't be thinking of increasing rates for this year. Our expectation is that more likely to cut rates.