A gauge of inflation in Australia was up 0.3 percent on month in January, TD Securities said on Monday, slowing from 0.4 percent in December.
On a yearly basis, inflation is expected to come in at 2.5 percent in January, the data showed, up from 2.4 percent in the previous month.
That reading is not expected to spur the Reserve Bank of Australia into cutting rates at tomorrow's monetary policy meeting, TD said.
"We conclude that the RBA is in a comfortable position to discuss the outlook and the risks at the board meeting tomorrow without reducing the cash rate further, for now," TD Securities head of Asia-Pacific research Annette Beacher said in a statement accompanying the data.
by RTT Staff Writer
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