Shock inflation jump dashes rate cut hopes
Australia’s Consumer Price Index has jumped unexpectedly to 3.8% in the 12 months to October, dashing hopes that inflation had turned the corner. The shock increase has effectively ruled out Reserve Bank interest rate cuts next month, with any rate movement now expected to wait until 2026. Political debate has erupted over the causes, with the government citing the end of power bill rebates while the opposition blames Labor’s spending policies.Credit to : 7NEWS Australia