The ASX200 began tracking upward from a flat 0.00% at 11.30am Sydney time as CPI data came in at 2.7% YoY for August. The widely expected CPI decline was driven by electricity rebates from Canberra that pushed down the price of electricity on a temporary basis. It follows the RBA keeping rates on hold on Tuesday at 4.35% with bank chief Michele Bullock confirming the board didn’t “explicitly” consider a rate rise. With that said, housing inflation is set to remain an upside pressure, so it’s unlikely we’ll see a surprise RBA rate cut. As for who can read the crystal ball; westpac were calling …
