Australian dollar jumped after the hot CPI data that rules out an RBA rate cut next week ...Middle East

Reserve Bank of Australia Governor Bullock is not going to cut interest rates at the next meeting with this sort of data flashing across the terminals:

Read that post, the trimmed mean was a bit better. But kep in mind that the Australian government and the Reserve Bank of Australia have a firm agreement to target the mid point of the 2-3% band, its been well publicised. there is no way Bullock will allow a rate cut at the September 29-30 meeting with this data.

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Now, do note, as posted a couple of times already today:

As noted earlier today, the monthly CPI data from Australia does not show all components of the CPI, that'll have to wait for the quarterly data release (late in October).

This is all the more reason for a hold next week, the RBA can reconsider at the November 3-4 meeting after the quarterly data late in October hits.

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