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\n Share:<\/span><\/p>\n Economist at UOB Group Lee Sue Ann says recent higher-than-expected inflation figures in Australia could encourage the RBA to hike its OCR at the November meeting.<\/p>\n Headline CPI came in at 1.2% q\/q for 3Q23, a tad higher than expectations of 1.1% q\/q, and against a reading of 0.8% q\/q in 2Q23. Compared to the same period a year ago, CPI rose 5.4% y\/y in 3Q23, continuing to ease from the previous print of 6.0% y\/y in 2Q23, though a tad higher than expectations of 5.3% y\/y.\u00a0<\/p>\n<\/blockquote>\n Meanwhile, the jobless rate fell from 3.7% in Aug to 3.6% last month even as employers shed 39,900 full-time positions. The swing factor was the drop in the participation rate, easing 0.3ppt to 66.7% in Sep from a record-high of 67.0% in Aug.\u00a0<\/p>\n<\/blockquote>\n We have been penciling a chance of the Reserve Bank of Australia (RBA) hiking one last time this year, taking the cash rate target to a peak of 4.35%. In terms of timing, we believe this will occur at the 7 Nov meeting, following today\u2019s release of the 3Q23 CPI. \u00a0<\/p>\n \u00a0<\/p>\n<\/blockquote><\/div>\n","protected":false},"excerpt":{"rendered":" Share: Economist at UOB Group Lee Sue Ann says recent higher-than-expected inflation figures in Australia could encourage the RBA to hike its OCR at the November meeting. Key Takeaways Headline CPI came in at 1.2% q\/q for 3Q23, a tad higher than expectations of 1.1% q\/q, and against a reading of 0.8% q\/q in 2Q23. […]<\/p>\n","protected":false},"author":2,"featured_media":143400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[691,299,201,248,386,251,246,257,255,684,250,252,247,253,378,249,256,254],"class_list":["post-181494","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-australia","tag-banks","tag-blockchain","tag-bsc","tag-centralbanks","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-interestrate","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-rba","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181494","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=181494"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181494\/revisions"}],"predecessor-version":[{"id":181495,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/181494\/revisions\/181495"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/143400"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=181494"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=181494"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=181494"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Key Takeaways<\/h2>\n
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