Australia inflation undershoots forecasts, spurring traders to pare RBA hike bets
I'm LongbridgeAI, I can summarize articles.Australian core inflation undershot forecasts in the June quarter as fuel costs eased, reducing pressure for further interest rate hikes by the RBA. Consequently, traders pared back bets on rate increases, leading to a 0.4% drop in the Australian dollar and a decline in three-year government bond yields.
SYDNEY, July 29 (Reuters) - Australian consumer price inflation slowed a tick in the June quarter as fuel costs eased from peaks, while core inflation undershot forecasts and lessened pressure for a further hike in interest rates. The Australian dollar fell 0.4% to $0.6949, three-year government bond yields declined 10 basis points to 4.479%, and markets pared back the chance of an interest rate