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The Australian Bureau of Statistics has released March quarter inflation numbers and the bullhawks can flee back to their their befouled eyries with an undershoot on every measure, headline at 0.5% and 2.9% annual and trimmed mean at 0.5% and 2.6% annual:
No rate hikes are coming. The dollar was smashed lower by a half cent:
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More to come from UE.
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.
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