Thursday 20th July 2023

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Markets were buoyed a little further on the back of UK CPI numbers. Seemingly, if the UK can see core inflation fall a little further than expected then there’s hope for everyone. NAB’s Tapas Strickland says, although the fall wasn’t dramatic, it adds to the global view that inflation has peaked and it could fall rapidly from here. New Zealand’s CPI also fell, but Europe’s final CPI read was revised up a little. The RBA will be watching Australia’s employment numbers today, but Tapas warns that the numbers have been subject to some volatility lately so it should be treated with caution.

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