Just this morning, the Australian official released a blockbuster data, which is what all Australians are paying attention to:
Not surprisingly,
Australian inflation rate,
It's really up again!
In the second quarter of this year, Australia's inflation rate was 3.8%, although this figure had been predicted by many experts before, compared with 3.6% in the previous quarter,
Inflation is still up significantly!
Let's look at the specific increase in the inflation rate.
The price of clothing and footwear rose by 3%,
The price of tobacco and alcohol rose by 1.5%,
Housing prices rose by 1.1%!
And that's not an exaggeration, look at the more exaggerated data:
Fruit and vegetable prices have risen by 6.3%!
This is also the case since 2016,
The biggest increase in the price of fruits and vegetables!
Some of the rest of the gains,
Rental prices rose by 2%,
The price of meat and seafood rose by 1.3%,
Food and non-alcoholic beverages have risen by 1.2%!
Generally speaking, it is basically related to the necessary expenses of life.
It's all up!
The pressure of life has increased again!
Regarding the rise in inflation, Australian Treasurer Jim Chalmers publicly stated:
No surprises!
After all, the monthly inflation rate has been on an upward trend over the past few months, and even in May, the monthly inflation rate has risen to 4%.
Although there have been predictions about the recovery of the monthly inflation rate, even the value of 3.8% has been predicted in advance.
But the inflation rate has really begun to rebound, which is also unacceptable to many people, on the one hand, the inflation rate in Australia is now getting farther and farther away from the target range of 2%-3%,
On the other hand
The Reserve Bank of Australia has no hope of cutting interest rates!
Let's take a look at what the RBA said after the news of another rebound in quarterly inflation.
Inflation is now well above the inflation target range,
If you want to control the inflation rate,
At least until 2025!
There was also a sentence in the RBA's external statement:
In order to reduce the inflation rate,
The possibility of a 14th interest rate hike is not ruled out!
The signal released by this sentence may already be very obvious, although the RBA has revealed similar information countless times before, but this time, it may really not be possible to raise interest rates.
Inflation continues to rebound,
Officially unacceptable,
The people are even more unacceptable!
Finance Minister Jim Chalmers gave his opinion more directly:
Next week's RBA board meeting,
There is a possibility of a rate hike!
There are also some predictions from the outside world, and some experts believe that in order to control the inflation rate, the RBA may even be
The official cash rate has been raised to 5%!
Experts said that compared with many countries in Europe and the United States, Australia's inflation rate of 4.35% is not high.
The three phases of tax cuts and new federal and state spending injected an additional $46 billion into the current financial year.
This has a huge impact on the inflation rate!
Now only the quarterly inflation rate has rebounded, and in the future, there may be more inflation readings that will rise altogether.
Some experts said that the Reserve Bank of Australia has delayed raising interest rates for several months in order to stabilize the economy, but the result is that the Australian economy has not improved, but the inflation rate is on the verge of getting out of control.
Therefore, experts generally believe that the RBA rate hike on August 6 is more likely. It is not even ruled out that the RBA will continue to raise interest rates in order to control inflation again.
According to the current situation, it will be difficult for the RBA to cut interest rates this year, and if, according to the RBA itself, inflation will not be brought under control until 2025,
I really want to cut interest rates,
It may be the end of 2025!
soon
The exchange rate may be about to rise
In recent days, the exchange rate of the Australian dollar against the yuan has continued to decline.
Yesterday it even fell below the 4.7 mark,
The lowest rate came to 1:4.696!
Yesterday's dive in the Australian dollar against the yuan exchange rate is also a microcosm of the Australian dollar exchange rate trend in recent times.
Today, the Australian dollar has a low opening trend against the yuan, opening below 4.7.
Although there were small fluctuations in the follow-up, it was only barely maintained at the 4.7 mark, and it may fall below again at any time.
However, if the Reserve Bank of Australia (RBA) announces a rate hike on 6 August, the Australian dollar may usher in a wave of gains against the yuan.
After all, every time the official interest rate hike is announced, the Australian dollar exchange rate will fluctuate accordingly.
But how the Australian dollar exchange rate will change in the coming days, no one can say.
Since the end of July, the Australian dollar has entered a sharp decline mode against the yuan, and it will not be stable for too long, most of the time it is falling sharply.
However, if the RBA continues to choose not to raise interest rates on August 6 in order to stabilize the economic situation, leaving the official cash rate at 4.35%,
Australian Dollar to Chinese Yuan exchange rate
Probably want to lower it even further!
However, from a long-term perspective, the exchange rate of the Australian dollar against the yuan may rise further in the future. However, after all, the exchange rate market is ever-changing, and the sharp rise and fall may occur at any time, once there is an international event or Australia releases important data, the exchange rate will change as soon as possible.
The next exchange rate fluctuation should be on August 6.
Also on August 6th, everyone will know whether the pressure of life will increase further...