According to the latest data published by the Australian Bureau of Statistics (ABS) on Wednesday, Australia’s monthly Consumer Price Index (CPI) rose
gathered steam on cooling Australian inflation, which douses expectations of any more rate hikes by the Reserve Bank of Australia . The pair is losing 0.42% on the day to trade at 0.6450, as of writing.The quarterly Consumer Price Index published by the Australian Bureau of Statistics has a significant impact on the market and the AUD valuation. The gauge is closely watched by the Reserve Bank of Australia , in order to achieve its inflation mandate, which has major monetary policy implications.
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