According to Jinshi, Stephen Miller, an economist at fund management company GSFM, said that unless there is a significant downward surprise in Australia's first-quarter inflation data released on April 24, it is difficult to see the Reserve Bank of Australia abandoning its neutral preference position in the short term. Inflation data is still crucial, and the Reserve Bank of Australia hopes to see at least the second-quarter CPI data scheduled for July before deciding to cut interest rates, which makes August the earliest possible date for the first rate cut. The rate cut in August requires seeing the decline in inflation rate reach or be better than the central bank's current forecast, and the unemployment rate reach or be lower than the central bank's current forecast.
