Inflation figures could determine next interest rate move

Australia's inflation figures are expected to be released at 11:30am, with economists forecasting the headline rate at around 4% and the underlying rate at 3.7%, both above the RBA's target band of 2-3%. Housing costs, energy prices, rents, electricity and petrol continue to be the main drivers of inflation. RBA Governor Michelle Bullock has indicated the central bank remains prepared to raise interest rates further if inflation persists, with the next board meeting scheduled for 11 August.See omnystudio.com/listener for privacy information.