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ASX 200 hits three-week high following Australian inflation data
The S&P/ASX 200 Index reached its highest level in approximately three weeks, climbing toward the 8,800-point mark. The rally followed the release of inflation data from the Australian Bureau of Statistics, which showed the Consumer Price Index (CPI) rose 4% over the 12 months to August.
While the annual inflation rate was the highest since May 2024, the figures were slightly lower than the 4.1% economists had anticipated. Additionally, monthly inflation and underlying trimmed mean CPI were softer than forecasted. This data led to a decline in bond yields and caused traders to scale back expectations for further interest rate hikes following the Reserve Bank of Australia’s recent 25 basis point increase.
In individual company news, Great Western Exploration reported disappointing drilling results at its Juggernaut project, while Black Canyon announced a maiden mineral resource at its Wandanya project. Other notable movements included Imagion Biosystems securing ethics approval for clinical trials and True North Copper reporting high-grade copper-gold results.
Entities
ASX 200 · Australian Bureau of Statistics · Boeing · Federal Aviation Administration · Nvidia · Reserve Bank of Australia
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Market pricing indicates a 90% probability of the Reserve Bank of Australia increasing the cash rate to 4.60%.
- [○ 1 SOURCE] Nvidia announced an additional US$150 billion in share buybacks, bringing the total planned through fiscal 2028 to US$235 billion.
- [○ 1 SOURCE] WTI crude oil rose 0.95% to US$93.29 per barrel, while Brent crude rose 1.8% to US$106.18 per barrel.
- [○ 1 SOURCE] The FAA delayed certification of the Boeing 737 MAX 10 due to a newly discovered software issue.
- [○ 1 SOURCE] ASX 200 futures suggest a mild opening increase of approximately 6 points.