Original article by Matthew Cranston
The Australian Financial Review – Page: 1 & 6 : 31-Oct-19
Official data shows that the consumer price index rose 0.5 per cent during the September quarter and 1.7 per cent year-on-year. Trimmed mean inflation was 0.4 per cent during the quarter and 1.6 per cent for the year to September. With the inflation rate remaining below the Reserve Bank’s target range of 2-3 per cent for a 15th consecutive quarter, the cash rate now seems likely to stay unchanged at 0.75 per cent for the rest of the year. Craig James of CommSec says the three interest rate cuts in 2019 have spooked consumers.
RESERVE BANK OF AUSTRALIA, COMMONWEALTH SECURITIES LIMITED, CITIGROUP PTY LTD, ERNST AND YOUNG, BIS OXFORD ECONOMICS PTY LTD, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY