Is A Rate Cut Closer Now In Australia?

The latest monthly CPI data for November 2024 was released today, and while the headline rate rose, the important trimmed mean figure, which the RBA tracks, slipped in November despite being still able the top of the central bank’s target band. The closely watched trimmed mean core measure, which smooths out volatile items and is the focus of the Reserve Bank’s attention, slowed to 3.2% from 3.5% in the prior month, according to data from the Australian Bureau of Statistics today. Economists do expect the RBA’s next move would be to ease rates though they are divided on the timing […]