With the RBA out the way, it's all about the politics this week
All eyes are turning to Canberra as the dust settles on the first rate cut in more than four years.
Speculation is heating up about when an election might be called. And Canberra, rather than Martin Place, is now the major focus as economists await GDP partials.
Here’s what you need to know about the key economic data releases this week.
New numbers
The data: Monthly Consumer Price Index indicator, January, Australia Bureau of Statistics
When: Wednesday 26 February 2025
What to expect: This data set is volatile and not as comprehensive as the quarterly read. ANZ is warning that it may be “skewed too much towards goods” rather than services, which makes it less useful. ANZ is expecting headline annual inflation will ease to 2.1%.
Commonwealth Bank senior economist Stephen Wu is forecasting a lift in annual headline inflation to 2.7%, in line with the market, from 2.5% in December. This is entirely due to the electricity rebates being used up in Queensland, specifically, where $1000 was provided to help ease the cost of living. He thinks the annual trimmed mean will reach 2.8%, a slight increase, but said in a note that the bank’s economists “think this is a temporary blip with a downtrend resuming in February”.
