According to Jinshi Data, Australian money markets have become nervous ahead of the release of the second quarter CPI data on July 31, as there is great uncertainty about whether the data will unexpectedly be higher, thus laying the groundwork for an interest rate hike in August. Most of the inflation data this year has disappointed the Reserve Bank of Australia, and the bank remains vigilant because it will be judged almost entirely on its success or failure in curbing price pressures. Currently, the bond market has digested the possibility of an August rate hike, which is about 30%. The Commonwealth Bank of Australia (CBA) expects the overall CPI to rise by 1.0% month-on-month and 3.7% year-on-year in the second quarter. CBA economist Stephen Wu said that if the results are roughly in line with the forecast, the Reserve Bank of Australia will pause the rate hike in August, but there is still a risk of an unexpected upward inflation data.