Australian CPI for the year ending March 2024 came in higher than expected

It came in at 3.6% but the markets were expecting 3.4%.

All the anglosphere countries are experiencing sticky inflation. Here is the chart:

source

Interest rates in Australia are only 4.35%, compared to 5.25% in the USA and UK.

This means the Reserve Bank of Australia has room to raise rates further, especially as
the Australian public finances are strong (Australian government debt is only 23% of GDP).

But rising interest rates will upset mortgagees, and the Australian govt has to hold elections in Sept 2025.

But if inflation is starting to get out of hand, better to raise rates now instead of later this year.