Australian inflation figures reduced RBA rate cut possibility

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Wednesday, Apr 22 2015

Australian CPI rose by 0.2% in the March quarter 2015, compared with a rise of 0.2% in the December quarter 2014. This was in line with market forecasts. It rose 1.3% through the year to the March quarter 2015, compared with a rise of 1.7% through the year to the December quarter 2014.

Trimmed Means CPI rose by 0.6%, also in line with market expectations.The most significant price rises this quarter were for domestic holiday travel and accommodation (+3.5%), tertiary education (+5.7%) and medical and hospital services (+2.2%).The most significant offsetting price falls this quarter were for automotive fuel (-12.2%) and fruit (-8.0%).

After the data Aussie was pushed higher and is currently being traded few points above 0.7760 level. Pair is likely to find support around 0.77 handle and resistance above 0.78 area. Later today, in the US session, Existing Home Sales figures are scheduled for a release.

More in this category: « Greece still in focus MPC members more optimistic about inflation »

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