The Australian dollar has been marked lower following the below expected inflation data:
The RBA have said repeatedly they do not expect their inflation nor employment goals to be met before 2024 (and thus the cash rate will not be hiked before then). So far so good for that particular RBA expectation.
As I posted in the data post linked above ‘base effects’ from 2020 are not expected to show up in the CPI data until Q2. For now, a very, very subdued inflation pulse in Australia.