The latest official CPI data from Australia was very welcome indeed, showing sharp falls for both headline and core inflation rates:Australian Q4 headline CPI 4.1% y/y vs 4.3% expectedThe Reserve Bank of Australia target is 2 to 3%, so we are not there yet, but given the peak CPI rate was close to 8% this result is much improved. The RBA meet on February 5 and 6, its almost certain it'll be an on hold decision. AUD/USD dropped a little: This article was written by Eamonn Sheridan at www.forexlive.com.
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