Aussie plummets 2% after surprise drop in Australian inflation
Posted on April 27, 2016 at 10:42 am GMTThe Australian dollar fell sharply against major currencies on Tuesday after an unexpected drop in Australia’s quarterly CPI rate renewed expectations of a rate cut by the country’s central bank. Consumer prices in Australia declined by 0.2% on a quarter-on-quarter basis in the first three months of 2016, missing expectations of a 0.3% increase. On an annual basis, CPI was up 1.3% – the lowest in a year. It compares with forecasts of 1.8% and a rate of 1.7% in [..]