Economist: With the established downward trend in inflation, there is a high probability that the Reserve Bank of Australia will cut interest rates this month.

A senior economist at Bank of the West Pacific pointed out that the downward trend of inflation reflected in Australia's CPI data for the March quarter has essentially locked in the Reserve Bank of Australia's decision to cut interest rates later this month. Although the quarterly CPI rose by 0.9% compared to expectations, the annual growth rate was 2.4%, below the midpoint of the Reserve Bank of Australia's target range of 2%-3%. More importantly, the core inflation indicator - which is the data the Reserve Bank of Australia pays more attention to - showed a year-on-year rate of 2.9% for the March quarter, but the annualized growth rate for the past six months is only 2.5%, a momentum that is enough to prompt the central bank to start cutting interest rates.