Australian interest rates

RBA overshoots target

David Llewellyn-Smith
Monday 10 February 2025
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Westpac joins the doves.

December quarter CPI surprises to the downside

In our CPI Preview, we noted that the risk to our December quarter CPI and Trimmed Mean estimates were to the downside. That risk ended up materialising, with the CPI increasing just 0.2%qtr/2.4%yr (Westpac f/c: 0.3%qtr/2.5%yr) while the Trimmed Mean rose 0.5%qtr/3.2%yr (Westpac f/c: 0.6%qtr/3.3%yr).

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.