Australia Melbourne Institute Inflation at 4-month high

The Australian Melbourne Institute inflation index for November rose 2.7 percent; its highest since July. Month-on-month, inflation rose 0.2 percent vs. previous month's print of 0.3 percent. 

Still, weak inflation remains a thorn in the flesh of the RBA. It is widely believed that the central bank would not be willing to risk pushing inflation expectations even lower and potentially into the deflationary territory by tightening policy prematurely.