SYDNEY -Australian inflation eased from 33-year highs in the first quarter as the cost of living saw the smallest rise in more than a year, while core inflation dipped below forecasts suggesting less pressure for another hike in interest rates. Investors reacted by lengthening the odds on the Reserve Bank of Australia (RBA) resuming raising rates at its May 2 meeting, having paused in April after a 10-hike streak. Futures now imply only a 9-percent chance of a quarter-point rise in the 3.6 percent cash rate, while the local dollar shed early gains to stand at $0.

https://business.inquirer.net/397652/australia-inflation-slows-in-q1-market-leans-against-rate-hike

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