From Domainfax:
Michael Blythe, CBA:
Our view before today’s numbers was that an underlying CPI rise of 0.3 per cent or less in Q3 would leave inflation trapped at the very low rates that contributed to the May and August rate cuts. As such we continue to expect the RBA to cut the cash rate to 1.25 per cent at the November Board meeting. Although we hold this view without great conviction.There is no “smoking gun” on which to hang a rate cut decision.
