Australia's Central Bank May Have to Hike Rates Again After CPI Data, Says Mitsubishi UFG

MT Newswires Live06-26

Australia's Central Bank May Have to Hike Rates Again After CPI Data, Says Mitsubishi UFG Wednesday's inflation data from Australia will be very concerning for the Reserve Bank of Australia (RBA) and ...

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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralia's Central Bank May Have to Hike Rates Again After CPI Data, Says Mitsubishi UFG\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-06-26 18:22 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Australia's Central Bank May Have to Hike Rates Again After CPI Data, Says Mitsubishi UFG Wednesday's inflation data from Australia will be very concerning for the Reserve Bank of Australia (RBA) and ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4137","symbol_name":"综合支持服务","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2446836875","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2446836875","pubTimestamp":1719397363,"sourceInfo":{"source_id":"mtnewswires_live","name":"MT Newswires Live"},"weMediaInfo":null,"summary":"Australia's Central Bank May Have to Hike Rates Again After CPI Data, Says Mitsubishi UFG Wednesday'","collect":0,"end_time":0,"defaultTopTitle":"mtnewswires.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4137":"综合支持服务","LU1303367103.USD":"摩根大通多经理另类基金 A (acc)","BK4125":"广播","OIS":"Oil States International Inc","MUFG":"三菱日联金融","LU2098885051.SGD":"JPMorgan Funds - Multi-Manager Alternatives A (acc) SGD","XAO.AU":"标普/澳交所 普通股指数","LU1815336091.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AUP\" (USD) INC","USD":"ProShares Ultra Semiconductors","AUD":"Audacy Inc.","RBA":"里奇兄弟拍卖","LU0757428866.USD":"THREADNEEDLE (LUX) GLOBAL SMALLER COMPANIES \"AE\" (USD) ACC","BK4207":"综合性银行","XJO.AU":"标普/澳交所 200指数","CPI":"IQ Real Return ETF","BK4179":"石油天然气设备与服务","XKO.AU":"标普/澳交所 300指数"},"translate_title":"三菱UFG表示，澳大利亚央行可能不得不在CPI数据公布后再次加息","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"US12M.BOND":1,"XKO.AU":1,"XJO.AU":1,"XAO.AU":1,"USD":1,"US7Y.BOND":1,"US6M.BOND":1,"US5Y.BOND":1,"US3Y.BOND":1,"US30Y.BOND":1,"US2Y.BOND":1,"AUD":1,"US10Y.BOND":1,"OIS":1,"AUDUSD.FOREX":1,"CPI":1,"MUFG":1,"RBA":1,"US912797GB79.BOND":0.6,"US912797GK78.BOND":0.6,"US912797GL51.BOND":0.6,"US912797GW17.BOND":0.6,"US912797HE00.BOND":0.6},"content_text":"Australia's Central Bank May Have to Hike Rates Again After CPI Data, Says Mitsubishi UFG Wednesday's inflation data from Australia will be very concerning for the Reserve Bank of Australia (RBA) and could well tilt a decision in favor of a hike when it next meets on Aug. 6, said Mitsubishi UFG.The consumer price index (CPI) in May accelerated from 3.6% y/y to 4.0% y/y while the trimmed mean measure increased from 4.1% y/y to 4.4%, both stronger than expected. The two-year government bond yield has surged 18bps on the back of the data with OIS pricing on RBA policy changes now indicating a greater than 50% probability of a 25bps hike by September, wrote the bank in a note to clients.Governor Michele Bullock at the last policy meeting on June 18 indicated the RBA's bias was leaning in favor of a hike.That said, Governor Bullock also played down the prospect of a hike and tried to relay a bias that was at least very close to balanced by highlighting concerns over weak economic data and acknowledging that the stance of monetary policy was already restrictive.However, inflation data is of course key and this upside surprise will be difficult for the RBA to ignore, stated MUFG. The data also comes at a time when the government will be adding fiscal stimulus to the economy according to RBA analysis.Additionally, Governor Bullock confirmed that the RBA needed more \"comprehensive\" information on inflation in order to determine the next move.The one note of caution on concluding the need for the RBA to hike is that there is no RBA meeting in July with the next meeting not until Aug. 6 and by then investors will have had the Q2 CPI data released on July 31, pointed out the bank.If activity data is uniformly weak in the period ahead and the Q2 CPI data is weak, it could allow the RBA to hold off. But a weak Q2 CPI report is of course less likely now after Wednesday's inflation data but nonetheless there is the potential for the RBA to hold off, added MUFG.Still, from a foreign exchange perspective this is supportive of yields and argues for a longer period of time before the RBA considers a cut which reinforces the bank's view of a gradual move higher for AUD/USD.","kind":null,"is_publish_news":false,"is_publish_highlight":false,"is_publish_live":true,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2446836875"}