As part of ANZ’s Roy Morgan consumer sentiment survey is a check on consumer inflation expectations.
And … well, they are rapidly rising.
Australia consumer confidence is resilient, but inflation expectations also still trending.
The RBA is sitting on the fence with its taper plan, reducing the amount but extending the time it’ll be buying bonds. As for a rate hike, Governor Lowe insists its not going to happen until 2024 at the earliest. The RBA might get some encouragement from this rise in expectations, they’d like inflation to quicken. This info in this post from a while back might go some way to explaining why:
From just last week on similar:
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