The Australian sharemarket ended the day firmly in the red on Wednesday despite a brief uptick following the latest consumer price index data, which showed inflation had slowed to the lowest rate since January 2022.
The Australian sharemarket ended the day firmly in the red on Wednesday despite a brief uptick following the latest consumer price index data, which showed inflation had slowed to the lowest rate since January 2022. The S&P/ASX200 dropped 52 points, or 0.7 per cent, to 7468.5 at the close as miners, utilities and consumer staples dragged the index lower. It comes after the monthly headline consumer price indicator cooled to 4.3 per cent in the year to November, from 4.
9 per cent in October, according to the Australian Bureau of Statistics. The consensus forecast had been for an inflation rate of 4.4 per cent. The inflation data will help guide the Reserve Bank’s decision on interest rates when it next meets on February 6 after its summer break. The central bank is looking for evidence of a slowdown in the Australian economy before ending its series of rate rises. Independent economist Nicki Hutley said she felt reasonably confident about there not being a rate rise when the Reserve Bank next meets
Australian Sharemarket Inflation Consumer Price Index Interest Rates Reserve Bank
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