Chalmers says banks are safe as markets dump rate rise bets

for future rate increases, with markets fully pricing for the cash rate to stay on hold when the RBA next meets on April 4.

“Taken together, the survey data on prices have good explanatory power for forecasting inflation, so today’s results do not point to a sharp downshift in inflation,” he said.The NAB survey suggests inflation for goods is falling because of a normalisation in shipping costs and supply chains, but inflation in the demand-sensitive services sector remains persistently high.Within the retail sector, quarterly growth in input costs has fallen to 2.

However, ongoing pressures in the services sector further push inflation higher, with consumer prices increasing at a steady pace of 1.7 per cent each quarter.NAB chief economist Alan Oster said the report showed little evidence that services prices were easing, which is a key source of concern for the RBA.

So lame. Thanks Jim.

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