Australian inflation fell to 2.4% in February, but the RBA may wait for more data before cutting rates.

Australian inflation dropped 10 basis points to 2.4% in February, with the RBA's preferred measure, the trimmed mean, falling to 2.7%. Despite this, experts expect the RBA to wait for March quarter CPI data before considering a possible rate cut at its May meeting. The recent federal budget, which includes new stimulus measures, may complicate the RBA's efforts to control inflation but does not preclude further rate cuts.