Sycamore said the CPI figures would factor into the RBA’s announcement on rates next week.
Sycamore said when mentioning household spending, the RBA was referring to retail sales data which is due to be released on Friday.He said the RBA would be hoping for a slowdown in retail spending. “So in terms of the four boxes that they've put out there for the market to assess, three of them would suggest that the RBA stay on hold, while the fourth one being that hot labour market data would probably be more indicative that the RBA could hike rates when they meet next week.Sycamore said prior to the release of the CPI figures a rate rise in August was seen as a possibility.
"The RBA have increased interest rates significantly and the full impact hasn't hasn't yet been felt.
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