Australian shares are set to open lower. The Nasdaq is pacing losses in New York. First-quarter CPI in focus. $A slides. US 10-year yield drops.
An indigenous labour hire firm linked to underworld figure Mick Gatto has emerged as a big winner in a $222 million Victorian government road upgrade project.The defence review wants Australia to be able to strike at distance and defend in depth but says little about the greater Indo-Pacific power balance.AUD -1.1% to 66.24 US centsIn New York: BHP -3.4% Rio -3.6% Atlassian -7.6%Stoxx 50 -0.5% FTSE -0.3% CAC -0.6% DAX +0.1%Iron ore -1.9% to $US101.
“Key for the RBA will be the extent of the slowdown in core inflation, particularly the trimmed mean measure. The RBA’s projections in its February SMP imply that the central bank was expecting trimmed mean inflation to slow to around 1.4 per centQoQ/6.6 per centYoY, in line with our forecasts, and down from 1.7 per centQoQ/6.9 per centYoY in 4Q ’22.
“Given the RBA’s focus on avoiding a recession, we think the bar for RBA to restart hikes is high. A CPI report largely in line with our projections would increase our confidence in a continued pause in May.”: ”Our economists’ expectation is for headline CPI to lift 1.2 per cent q/q and for trimmed mean inflation to lift 1.5 per cent q/q and 6.8 per cent y/y. We think core inflation overall will lift 1.45 per cent q/q and 6.
“We expect the largest upward contributions to headline inflation this quarter to be from housing , food , health, education, and a range of household services.”: “We are below consensus on both the headline CPI and trimmed mean measure in Q1. We expect headline inflation to ease to 1.2 per cent q/q from 1.9 per cent last quarter. This would bring the annual print to 6.8 per cent y/y, from 7.8 per cent y/y in Q4.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TODAY IN HISTORY: Australian and New Zealand Army Corps land at GallipoliThe Australian and New Zealand Army Corps (ANZAC) landed at Gallipoli in western Turkey on April 25 in 1915 during the Dardanelles Campaign of World War I.
Read more »
South Australian footballer dies after on-field collisionA 20-year-old man has died in Adelaide after being critically injured in an on-field collision during a football match over the weekend. Australian rules footballer Antonio Loiacono was playing in the opening game of the season in Adelaide Hills for his A-grade team when he was injured on Saturday. The 20-year-old was treated by specialty paramedics at the scene and admitted to Royal Adelaide Hospital where he died last night. The South Australian National Football League has released a statement saying the league is offering the family and the club all the support it can.
Read more »
How the Australian housing industry boomed into a generational problemIn 2021, building construction boomed, house prices shot up to new highs and mortgages swelled as more Australians got into property for the first time, and households got smaller as people searched for more room.
Read more »
How the great Australian dream transformed the economy into a house of cardsIn a country with some of the most expensive housing in the world, Australians are carrying record levels of debt to pay for homes ever more distant from their places of work.
Read more »
'Biggest shake-up in decades' as Australian defence enters 'missile age'Prime Minister Anthony Albanese said today Australia faces the greatest strategic challenges since World War II as the government unveiled its response to the landmark defence review. 9News
Read more »
Australian Defence Force should be ‘last call’ for natural disasters: MarlesDefence Minister and Deputy Prime Minister Richard Marles says the Australian Defence Force should be the “last call” when it comes to natural disasters as other entities should come first. “If people are in an emergency and there is a capability that only the ADF has, it will always be there to provide assistance,” Mr Marles told Sky News Australia. “If there are responses that can occur … in response to a natural disaster that can be done by other agencies, by other entities, by building more robust and resilient responses from the states well then we need to focus on that. “If we don’t, given the changing frequency of flood and fire, we’re gonna find a whole lot of our capability is taken up in this. “The ADF is a unique capability in terms of being able to defend our nation … no one else can do that, other entities can provide assistance during natural disasters.”
Read more »