Surprise inflation drop cools bets of RBA rate hikes

The latest data from the ABS shows headline inflation fell from 4 per cent to 3.8 per cent in June. Despite trimmed mean inflation remaining steady at 3.6 per cent, well above the Reserve Bank’s 2-3 per cent target range, the unexpected drop in the headline figures has eased concerns of another interest rate hike in August. For more, Rena Sarumpaet spoke to Harry Murphy Cruise, head of Economic Research and Global Trade at Oxford Economics Australia. The Australian share market rose following the data drop. For more, Stephanie Youssef spoke with Jamie Hannah from VaNeck.