Let me first jump to CBA's conclusion on what to watch ahead:We expect a Q2 trimmed mean CPI of 0.9%/qtr or less would see the RBA leave the cash rate on hold in August (our forecast is 0.9%/qtr). An outcome of 1.1% /qtr or above would mean an August rate hike is more likely than not.We believe a Q2 2 4 trimmed mean CPI result of 1.0%/qtr is in the ‘grey zone’ and other important data to be released over coming weeks would feed into the decision as to whether to raise the cash rate or not in August. June labour force survey (due 18/7) is also a critical piece of economic data.The official CPI data from Australia is due on July 31 (11.30 am Sydney time, 0130 GMT, 2130 US Eastern time (on July
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