Is there still room for another Reserve Bank of Australia (RBA) interest rate hike soon?
The upcoming inflation report could strongly influence market expectations for tightening, as another pickup in price pressures is expected.
Here’s what to look out for.
Event in Focus:
Australia Consumer Price Index (CPI) and inflation data for June 2026
When Will It Be Released:
July 29, 2026 (Wednesday), 1:30 am GMT
Use our Forex Market Hours tool to convert GMT to your local time zone.
Expectations:
- Headline CPI y/y: 4.1% expected, 4.0% previous
- Headline CPI m/m: 0.2% expected, -0.7% previous
- Trimmed Mean CPI y/y: 3.7% expected, 3.6% previous
- Trimmed Mean CPI m/m: 0.3% expected, 0.4% previous
Forecast as of July 27, 2026, 2:20 am GMT
Previous Releases and Risk Environment Influence on AUD
June 24, 2026
Overlay of AUD vs. Major Currencies – Chart Faster With TradingView
Event results / Price Action:
Australia’s May headline CPI slowed to 4.0% y/y, below the 4.4% forecast and 4.2% prior reading. But the RBA’s trimmed mean measure rose to 3.6%, beating both the 3.5% estimate and 3.4% previous. Deputy Governor Hauser said inflation remains far too high, keeping the policy outlook uncertain despite the softer headline.
The Aussie fell on the mixed report and stayed near multiweek lows through Asia and London as broad U.S. dollar strength added pressure. Selling picked up during the U.S. session as weaker oil and gold prices dragged on commodity currencies, leaving AUD broadly lower on the day.
