SYDNEY (Reuters) -Australia’s top central banker on Monday said a rise in core inflation of 0.9% in the third quarter would be a “material miss” to forecasts that would have to be weighed by the board when judging whether to cut interest rates next week.
Speaking at an economics dinner, Reserve Bank of Australia Governor Michele Bullock was asked about consumer price data due on Wednesday where market economists are looking for a rise of 0.8% in the quarter, while the central bank had been forecasting something nearer 0.6%.
Also asked about a surprise jump in unemployment to a four-year high of 4.5% in September, Bullock said the monthly numbers moved around a lot and the reading was not a huge amount above the RBA’s projections.
(Reporting by Wayne Cole; Editing by Kirsten Donovan)
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