Australia inflation falls to 3.8% — RBA rate hike less likely in August

Australia's Bureau of Statistics reported that annual inflation unexpectedly eased to 3.8% in the year to June, down from 4%. The result makes it less likely the Reserve Bank of Australia will raise interest rates at its 11 August meeting, offering relief to mortgage holders. Economists had described the consumer price report as a make-or-break moment ahead of the RBA's rate decision.