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Inflation came in at 1% for Q1 2024 in a big economic release. This was above market expectations, coming in way too high and is a cause for concern. Inflation is the number one data item that the RBA look at, and with this high number, rate cut talks for the foreseeable future are over.
The RBA removed its stance on 'increasing interest rates' at its last meeting, but is likely to reinclude it next week and warn Australian's that further rate rises may be required to quell the inflation beast.

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