RBA rate rise off the table as inflation not so bad

Investors now believe the next move by the Reserve Bank of Australia will be an interest rate cut rather than a rate rise, after underlying inflation came in only slightly above official forecasts in June.

Trimmed mean inflation, the RBA’s preferred measure of underlying price pressures, eased to 3.9 per cent in June from 4 per cent in March, the Australian Bureau of Statistics said on Wednesday. $S&P/ASX 200 OPIC (OXJO.AU)$ $ASX Ltd (ASX.AU)$ $AUD (BK20039)$