Australia's Monthly Inflation Cools, Boosting July Rate-Cut Bets
A gauge of Australia's monthly inflation cooled faster than anticipated in May, moving close to the bottom of the Reserve Bank's 2-3% target and bolstering the case for further interest-rate cuts.
The Consumer Price Index indicator advanced 2.1%, compared with economists' estimate of a 2.3% gain, data released by the Australian Bureau of Statistics showed on Wednesday. The headline figure has now been inside the RBA's target for 10 months.
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