Australian stocks are poised to rise the day after monthly inflation data showed the country "is no closer" to a rate cut than it was after the RBA's meeting on Tuesday.
Follow the day's financial news and insights from our specialist business reporters on our live blog.One of Australia's most lucrative exports is rising in market value, after stimulus measures announced in China.steel making raw material threatened to break above USD100/t for the first time in a month"In addition to the RRR cut and lower minimum downpayment requirement for second homes announced on Monday, yesterday saw the PBOC cut its one-year interest rate by 30bps.
"The market will now be watching for signs that the measures are translating into a real pick‑up in demand for steel and iron ore.unsold inventory likely to delay any resumption in construction activity."CBA's just noted in its morning currency wrap about how the AUD fell against the USD overnight, as theovernight . The Fed's chair and its vice are also speaking around the same time.
You can watch more about the core vs headline inflation debate in this TV story of mine about the data from last night.
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