Australia's June CPI came in below expectations, easing near-term pressure on the Reserve Bank of Australia (RBA) to tighten policy and giving the bank more room to assess the outlook. The Australian dollar and local government bond yields fell after the print. The RBA raised rates at its first three meetings this year to curb inflation that emerged before the US–Iran-driven global energy shock. Despite prices remaining elevated, another tightening at the August 11 meeting—when the RBA will publ

Australia's June CPI came in below expectations, easing near-term pressure on the Reserve Bank of Australia (RBA) to tighten policy and giving the bank more room to assess the outlook. The Australian dollar and local government bond yields fell after the print. The RBA raised rates at its first three meetings this year to curb inflation that emerged before the US–Iran-driven global energy shock. Despite prices remaining elevated, another tightening at the August 11 meeting—when the RBA will publish updated quarterly forecasts—now looks less likely.