Credit Agricole: What we expect from the November RBA meeting ...Middle East

Credit Agricole anticipates the RBA will hold rates at this week’s meeting, with Australian inflation and activity data aligning with forecasts, supporting a continued hawkish stance relative to other G10 central banks. Despite stable inflation and moderate retail activity, the RBA is expected to maintain a neutral outlook, with rate cuts not likely until early 2025.Key Points:Inflation in Line with Forecasts: Trimmed mean inflation is at 3.5% YoY, aligning with RBA projections and showing a decrease from 4.0% YoY, reducing pressure for policy shifts.Moderate Consumption Growth: Retail sales adjusted for inflation rose 0.5% QoQ in Q3 but remain below the RBA’s 1.5% YoY forecast for H2 2024,

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