Mumbai, Dec. 18 -- Australia's consumer inflation expectations rose to 4.7% in December from 4.5% in November, reflecting persistent price pressures. This came after the Reserve Bank of Australia held its cash rate at 3.6% for the fourth straight meeting. RBA Governor Michele Bullock noted that Q3 inflation was slightly stronger than anticipated, with temporary drivers and signs of persistence in certain sectors. She also highlighted that electricity rebates, while temporarily reducing inflation, will lead to higher prices once they expire. Annual inflation accelerated to 3.8% in October, the highest in ten months, still above the RBA's 2-3% target range.
Published by HT Digital Content Services with permission from Capital Market....