Australia’s Inflation Bombshell: RBA Cuts Wiped Off Table as Markets Recoil
Australia’s Q3 CPI jumped 1.3%, beating forecasts and pushing annual inflation to 3.2%. Core inflation also topped expectations at 1.0%. Markets slashed odds of near-term RBA rate cuts, sending the ASX 200 down up to 1% and lifting the Australian dollar to a three-week high. Major banks now expect no RBA cuts until at least 2026.