The February monthly CPI indicator shows inflation is contiuing to fall, which according to Westpac chief economist, Luci Ellis, strengthens the chance of another rate cut soon. Annual inflation dropped to 2.4% in February, after holding steady for two months. Dr Ellis says although some recent data is coming in softer than Reserve Bank forecasts, she’s not expecting an interest rate cut to come in April but May. Homeowners with mortgages will still be keenly watchly what the RBA does when it meets on April 1.
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