Citigroup economist Faraz Syed says July's hot inflation print implies Q3
sequential inflation will exceed the Reserve Bank of Australia's assumed 0.8%
rise. Citigroup had long expected a 25bp hike in November; ahead of next week's
Q2 GDP, Syed is now more convinced the RBA still needs another hike this year
and sees a substantial risk of a September increase, with risks skewing toward
more rather than fewer hikes.
