According to the data revealed, the rate of inflation has been falling down even before the RBA is ready to hold its last board meeting for the year.
Sky News Political Editor Andrew Clennel revealed that the monthly inflation rate could trigger another interest rate hike next month.
The monthly inflation rate fell from 5.6% to 4.9% in October.
The result was well below economists’ anticipation of a 5.2% increase.
The final board meeting of the RBA for 2023 will be held next week.
“It seems from the comments of Reserve Bank Governor Michele Bullock (that) she is of a mind to increase rates again,” Mr. Clennell stated.
“You would think this figure points to at least a chance of a month’s grace next month in terms of another rate rise.”
- Published By Team Australia News