The Australian share market is set to open higher after Wall Street hit new record highs overnight. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Locally, the monthly consumer price index out later this morning will be closely watched after the Reserve Bank of Australia's decision to keep interest rates on hold.
Follow the day's financial news and insights from our specialist business reporters on our live blog.will be released later this morning at 11:30am. The data will be closely watched after the Reserve Bank of Australia's decision to keep rates on hold yesterday.a rate hike was not explicitly discussed at the meeting.Headline at 2.7% y/y, down from 3.5%
It believes electricity subsidies and fuel base effects will drive the lower print, "with gradual but ongoing progress expected across other parts of the basket, including market services". "We expect the detail to be consistent with our Q3 trimmed mean expectation of 0.8% q/q, which would see the year-ended rate fall to 3.5% from 3.9% y/y in Q2, in line with the RBA's forecast," it wrote in a note.which was driven by increased concerns about the job market. We'll have more on that soon.
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