All eyes on inflation figures as RBA's next rates decision nears
With one week to go until the Reserve Bank's November meeting, the final piece of the economic puzzle is about to be released.
New inflation figures to be published this week will see economists amending their rate cut predictions. And it may slam the door on the possibility of a 2024 rate cut once and for all.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Consumer Price Index and Monthly Consumer Price Index indicator, September quarter, Australian Bureau of Statistics
When: Wednesday 30 October 2024
What to expect: The June quarter headline CPI increased by 3.8% on an annual basis. This is expected to dramatically reverse due to the government’s cost-of-living support, most notably energy bill rebates. CBA tips a 2.9% annual rate for the September quarter. ANZ expects headline inflation will slow to 0.3% over the quarter, or 2.9% over the year.
