TD Securities and the Melbourne Institute have issued new data on inflation in Australia. The figures for the month of October 2007, outside the September quarter survey period for recent official statistics, confirm growth of 0.3% per month. This will lead to further pressure on the Reserve Bank of Australia to announce an interest rate rise on 7 November, with money markets already putting the probability at 92%. Meanwhile the ANZ Banking help-wanted advertising survey has recorded an all-time high of 254,554 vacancies for October, up 30% year-on-year.
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