MUFG anticipates that the latest inflation data from Australia could prompt the Reserve Bank of Australia to consider another rate hike at its upcoming meeting on August 6th. The surprising uptick in inflation, coupled with fiscal stimulus measures and the RBA's current policy bias, strengthens the case for maintaining a hawkish stance.Key Points:Inflation Data:Australia's year-on-year CPI for May accelerated from 3.6% to 4.0%.The trimmed mean measure increased from 4.1% to 4.4%, exceeding expectations.This inflation data is concerning for the RBA and could influence its upcoming policy decisions.Market Reactions:The 2-year government bond yield surged by 18bps following the inflation data r
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