Australia’s crucial June quarter consumer price inflation (CPI) report is just a day away from being released. It will be massive event, and likely bring extreme market volatility, especially if the core inflation reading comes in higher than the 0.4% level expected by economists. The markets are waiting, as are the Reserve Bank of Australia, to see whether the core inflation print will be low enough to warrant another rate cut, as was the case when the previous CPI report was released in late April. While that question, and whether the RBA will likely need to cut again, will be answered in a little over 24 hours, ... (full story)