The focus today is going to be on Q1 inflation data in Australia, due at 0130GMT (22 April 2015). Its taken on new importance since it got a specific mention in the RBA Minutes yesterday.
Members also saw advantages in receiving more data, including on inflation, to assess whether or not the economy was on the previously forecast path and allowing more time for the economy to respond to the reduction in the cash rate earlier in the year
I did a preview of the CPI data yesterday: Preview of Australian inflation data due on Wednesday
Q1 CPI
The 'headline' result is the q/q:
expected is +0.1%, prior was +0.2%
For the y/y,
expected is +1.3%, prior +1.7%
For
the 'trimmed mean' (which is the measure the RBA pays most heed to, it
is the 'core' inflation figure where the RBA target band is 2 - 3%).
For the q/q:
expected 0.6%, prior 0.7% q/q
For the y/y:
expected is 2.2%, prior 2.2%
Finally, there is the 'weighted median' CPI:
For q/q: expected is 0.5%, prior was 0.7%
For y/y: expected is 2.3%, prior was 2.3%
-
Prior to the inflation data we get:
- 0030GMT - Westpac leading index for march, prior was +0.3% m/m
