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Australia trimmed mean CPI rises to 3.7%, above forecasts, as RBA hike case firms

Oil is the clearest driver of the headline beat, and Bullock tied higher energy prices directly to a worse inflation outlook only minutes before the release, so any further rise in crude adds to the case for tightening. The bigger signal for markets is the core reading. A trimmed mean that rose to 3.7%, when the RBA had expected it to stabilise, supports pricing for a hike on November 2 and 3,…

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