Investors have pushed out the timing of the first interest rate cut in Australia to well into next year after the September quarter inflation report showed price pressures in the services industry remained stubbornly high.
The rate-sensitive three-year government bond yields edged up one basis point to 3.97 per cent, and money markets imply just a 23 per cent chance of a rate cut by Christmas, down from 34 per cent before the data.
