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We're ending the week on a cautiously optimistic note after the latest ABS Consumer Price Index release showed inflation slowed during January. The final figure came in at 7.4 per cent (well below expectations of 8.1 per cent and down from 8.4 per cent in December). Barry Plant CEO Mike McCarthy told us that while the figures were welcome news, they probably wouldn't be enough to see the RBA hit a pause on rates next week. ?
"I would be surprised if that were to have an impact on the decision next week... I think they’d want to see some more definitive figures before pulling back," he said.
Despite this, the fact that inflation figures were heading in the right direction meant there may only be one or two more rises before rates hit their peak, he said. And a quick reminder that we'll have the reactions from Mike and many more on the Elite Agent website following the RBA decision next Tuesday.
Today in our 2 min audio with host Mark Edwards we are also covering:
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