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Aussie Takes a Tumble, UoM Consumer Sentiment Next

Australiaโ€™s consumer inflation expectations climbed to 5.0% in May, matching the estimate and above the April reading of 4.6%. This is not what the Reserve Bank of Australia wants to hear โ€“ if inflation expectations keep rising and become entrenched, it can manifest into higher inflation. The RBA surprised the markets with a 25-basis point hike earlier this month, as investors had expected a second straight pause. Another rate hike at the June meeting will not win the Bank any friends, with ...
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