Forex News Australian 2Q PPI underscores bigger picture that inflation is not as bad as some fear, leaving RBA on track to cut rates from early 2009, says NAB Chief Economist Alan Oster. "I'd broadly say this is consistent with the view that maybe inflation is not as bad as some people may have feared." Notes price pressures remain, driven by commodity prices, but says in short-term "market may have gotten a bit ahead of itself." Adds doesn't have much correlation with CPI due Wednesday.
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