ANZ share price dips after inflation surprise; RBA decision next week is the big test
ANZ shares fell 0.5% to A$36.39 after hotter-than-expected inflation data increased bets on a Reserve Bank of Australia rate hike in February. The bank said it will redeem A$1.25 billion in subordinated notes next month. The S&P/ASX 200 slipped 0.09%, ending a three-day rally. Core inflation rose 3.4% year-on-year, above the RBA’s target range.