Australian data - Melbourne Institute Inflation (October) -0.1% m/m (prior 0) ...Middle East

Melbourne Institute Inflation gauge-0.1% m/mprior 0% m/m5.1% y/yprior 5.7%That m/m decline is not a smoking gun for a Reserve Bank of Australia rate hike tomorrow. From last week:Failure to act on high CPI threatens to damage the Reserve Bank of Australia's credibilityReuters Poll: RBA to high cash rate to 4.35% on November 7IMF tells the RBA to hike interest rates higher, and hold 'em high for longerWestpac forecasting a November Reserve Bank of Australia rate hikeUBS forecasts a November RBA interest rate hike, and likely more to come after thatRBA rate hike incoming on November 7 - will they hike again in December?Commonwealth Bank of Australia forecast a 25bp RBA rate hike on November 7A

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