Thursday 25th September 2025

NAB Markets Research Disclaimer 

Financial Services Guide | Information on our services - NAB

Aussie inflation numbers were a bit higher than expected yesterday. On the surface it didn’t seem to be too much of an upside surprise, but NAB’s Taylor Nugent tells Phil that the devil was in the detail, with worrying indicators around services inflation. Taylor says this will have a material impact on the quarterly inflation print. As a result, it is changing its forecasts for rate cuts. Whereas the expectation was for moves down in November and February, now it’ll be well into the new year before the first cut. Phil asks, can we be sure the next move will be down?

Hosted on Acast. See acast.com/privacy for more information.