Australian CPI due today - the number to watch to (potentially) trigger a May rate hikeEarlier post here, what's expected and previews etc:
Two data points of focus in Asia today - Australian inflation and China profits
A little more via NAB this morning. This in the context of the Reserve Bank of Australia have stated they want to assess wages and GDP data ahead (Wage Price Index data - WPI - is on 18 May and GDP is on 1 June) which seems to indicate a June rate hike at the earliest. But, says NAB:
Though the bar appears high, a stellar core CPI print still has the potential to bring forward the first-rate hike to May. We think a core trimmed mean print of around 1.5% q/q that is sufficiently broad-based would be enough to see the RBA feel compelled to move in May.
RBA meetings ahead:
3rd May
7th June
Lift off coming up:
Source: Australian CPI due today - the number to watch to (potentially) trigger a May rate hike (https://www.forexlive.com/centralbank/australian-cpi-due-today-the-number-to-watch-to-potentially-trigger-a-may-rate-hike-20220426/)
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