Economic Weekly: Inflation not falling quickly enough for a rate cut this year

CommBank Global Economic & Markets Update podcast

All eyes were on the Q3 24 CPI data last week. While inflation continues to moderate, the disinflation process is not occurring quickly enough to warrant a rate cut by year end. As a result, we have shifted our base case and now expect the first interest rate cut to arrive in February next year. In this week’s podcast, Head of Australian Economics, Gareth Aird, Senior Economist, Stephen Wu and Economist, Harry Ottley discuss the inflation data in detail and outline why we pushed back our expectations for the cutting cycle. They also preview this week’s RBA Board meeting and cover off the other data released last week, with a focus on consumer spending.

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