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Australia Td Inflation Gauge down 0.2 Pct in June, Lowest Since 2009

Jul 02 2012
By
Forexbrokerz.com
  • Australian inflation gauge was reported down by 0.2 pct to hit its lowest since June 2009 on lower petrol prices
  • Core inflation also flat on monthly basis while rising 1.9 pct in yy terms
  • Annual pace now stands at 1.6 and way below RBA's target of 2-3 pct inflation, opening door for further rate cuts

 Quotes

   "Given the RBA has moved rapidly by cutting 75 basis points since, we believe the RBA is in a comfortable position to sit tight for at least tomorrow's RBA board meeting,"

   "We still expect the next move to be down, thanks to the favourable inflation outlook, but we don't see any urgency for a third consecutive cut,"

"While the timing of the RBA's next move remains data dependent, we continue to pencil in a rate cut in August."

Annette Beacher, Head of Asia-Pacific Research at TD Securities. 

The material has been provided by Instaforex Company - instaforex.com
TAGS: Australia  Td  Inflation  Gauge  down  0.2  Pct  in  June    Lowest  Since  2009 

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