Australian Treasurer Chalmers: Don’t expect inflation forecast to change markedly

Australia’s Treasurer Jim Chalmers said on Wednesday, the government doesn’t expect the inflation forecast to change markedly.

He added that “we expect inflation to peak around the same level at end of year.”

This comes after the Australian Consumer Price Index (CPI) rose to 7.3% QoQ in the September quarter.

Market reaction

AUD/USD remains pressured below 0.6400 amid risk-aversion, unable to capitalize on Australia’s hot inflation data. The pair is trading at 0.6388, down 0.07% on the day.