Anthony Albanese may find himself 'kicking with the wind' to an April election on double RBA rate cuts
ABCThe prime minister has had little cause to celebrate of late. He would do so to take advantage of the political momentum generated by not just one but two official Reserve Bank of Australia rate cuts in the lead-up to election day. September's annual trimmed mean, a measure that strips out volatile price swings, cooled to 3.2 per cent from a year ago, down from 3.4 per cent in August and 3.8 per cent in July. Non-tradable inflation, which captures mostly home-grown price pressures, slowed to 3.5 per cent in September, the lowest figure since the ABS began producing monthly inflation data in mid-2022. Despite core inflation hovering so tantalisingly close to the RBA target range, economists and financial markets broadly agree that governor Michele Bullock will hold fire on rate cuts at next week's meeting as well as the year's final gathering in December.
History of this topic
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