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Inflation In Australia Exploded Last Quarter, Will Change Tone At RBA's Next Meeting
The Australian bureau of statistics has just released a much stronger than expected 4th quarter 2013 headline CPI of 0.8% which takes the year-on-year number to 2.7%. The Australian dollar has roared higher as a result as traders price out the chances of another rate cut any time soon. On the Sydney Futures Exchange the 90-day futures curve has reacted accordingly with prices falling (rates higher) across the entire curve. After this week’s unexpectedly strong TD Securities Monthly CPI of 0.7% there was always a risk that the December Quarter CPI was going to print on the high side but most observers thought it a ... (full story)