The Reserve Bank of Australia (RBA) has acted in line with expectations and kept interest rates on hold at 4.35%. This comes after the country just last week got its latest quarterly inflation data. Consumer Price Index (CPI) growth came in at 2.8% reflecting energy rebates and fuel price declines; while Trimmed Mean Inflation (TMI) remains higher at 3.5%. While headline inflation will decline for a time, TMI – also known as underlying inflation – is more indicative of inflation momentum, and it remains too high. The ASX200 sold off after last week’s CPI data release, perhaps counterintuitivel…