Australian Treasury official talking – headline inflation slowing … however

Secretary to the Australian Treasury, Dr Steven Kennedy, is giving testimony within the Australian parliament, on the Senate Funds Estimates, Economics Laws Committee.

You’ll be able to view the stay occasion right here.

Briefly:

• Rates of interest will come down, however to not pre-pandemic ranges
• family consumption is subdued
• households are rebuilding financial savings
• underlying inflation is beneficial for the path of inflation, headline inflation has proven a “materials” fall in value of dwelling pressures.
• a fall in value of dwelling stress has been proven in headline inflation
• underlying inflation exhibiting the path of inflation
• says commerce off between decrease inflation and jobs

AUD not rather a lot modified on his testimony, he doesn’t appear out of line with present RBA pondering.

Observe his feedback on headline vs. underlying inflation. Headline inflation in Australia, based on the newest launch, dipped beneath the highest of the RBA goal band (the band is 2 – three%) whereas underlying (core) inflation (on this case the trimmed imply) stayed effectively above three%.

***

AUD/USD not doing a lot. Its actually ready for cues from the US election. We simply had some exit polls. Fairly ineffective they had been, IMHO:

• The primary US exit ballot is out: Girls voted at a better price than in 2024
• Preliminary Exit ballot outcomes from Arizona from Edison Analysis. Greater Hispanic voters

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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