Australia - March TD Securities/MI Inflation Gauge: +0.4% m/m ( prior was 0.0%)

TD Securities/Melbourne Institute (MI) Inflation Gauge for March,

+0.4% m/m

• prior was 0.0%

+1.5% y/y

• prior was 1.3% y/y

The trimmed mean is flat at 0.0% m/m, up 1.6% y/y

Both the headline y/y and trimmed mean y/y are below the RBA's 2 - 3 % band.

Inflation is no impediment to the Reserve Bank of Australia cutting rates, should they decide to do so (the next meeting is on Tuesday, April 7) - house price gains are the constraint.