March quarter CPI figures dash rate-cut hopes; bond yields jump

24 April 2024

 

Summary: Annual Inflation rate slows to 3.6% in March quarter, more than expected; RBA preferred measure slows from 4.2% to 4.0%; ACGB yields jump; rate-cut expectations soften; education, health, housing, food main drivers of result. In the early 1990s, high rates of inflation in Australia were reined in by the “recession we had to have” as it became known. Since then, underlying consumer price inflation has averaged around 2.5%, in...

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