Australian Property Investor
Inflation has taken a bigger than expected fall in data released today, placing more pressure on the Reserve Bank of Australia to cut interest rates on 18 February.
The most politically sensitive data released by the Australian Bureau of Statistics (ABS) in some years, with an election looming and mortgage holders under stress, showed a larger than expected fall in trimmed mean inflation, the measure watched most closely by the RBA.
Annual trimmed mean inflation was 3.2 per cent in the December quarter, down from 3.6 per cent in the September quarter. Markets had factored in a fall to 3.3 per cent.
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