As well as local inflation and the health of Europe, the & #160;Reserve Bank has also been concerned that China's attempts to slow its strongly growing economy, might come unstuck.We know consumer and wholesale price inflation in Australia is easing, Europe is improving and yesterday the Chinese economy got a tick from the country's central bank and the International Monetary Fund.
The RBA will very likely leave the cash rate unchanged at 4.5% in August. Inflation in Australia undershot market expectations in 2Q10 with the headline CPI rose +0.6% q/q, compared with a +0.9% increase in the prior quarter. On annual basis, the reading rose +3.1% in 2Q10, up from +2.9%
Central Pacific Bank?s parent company lost $16.1 million, or 60 cents per diluted share, in the second quarter, a significant improvement over the $160.2 million it lost during the first quarter of this year. (CPF)