February month inflation data is due from Australia today. Its expected to be steady at 2.5% y/y. The Reserve Bank of Australia target band is 2 to 3%, and the Bank and government have agreed to target 2.5%.
On Tuesday evening Australian time the budget was announced in Australia. ICYMI:
The opposition party in Australia has said they’ll block the tax cut, saying its just an electoral bribe. I guess the only justifiable bribes are those offered to members of parliament?
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The monthly CPI data from Australia does not show all components of the CPI, that’ll have to wait for the quarterly data release (late in April).
- The monthly CPI indicator does, however, provide a timelier indication of inflation using the same data collected for use in the quarterly CPI. The monthly reading includes updated prices for between 62 and 73 per cent of the weight of the quarterly CPI basket, its not the full picture.
- This snapshot from the ForexLive economic data calendar, access it here.
- The times in the left-most column are GMT.
- The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
