RBA Deputy Governor Hauser: Today’s CPI Data Is Too High

Hauser's framing matters more than the print itself: an in-line CPI reading being called "too high" signals the RBA is judging inflation against the target band rather than against consensus forecasts, which shifts the burden of proof onto incoming data. The remark carries weight because headline CPI has not sat inside the target range since mid-2025, making this a durability problem rather than a single surprise. Whether the RBA treats matching expectations as sufficient going forward, or keeps flagging the level as the binding constraint, is the open question.