Stubborn high inflation is set to influence the upcoming federal budget, with Treasurer Jim Chalmers indicating necessary spending cuts. Underlying inflation rose to 3.4 percent in January, prompting expectations of further interest rate hikes from the Reserve Bank, which currently stands at 3.85 percent. Capital expenditure data for the final quarter of 2025 is expected to show a decline, following a previous spike driven by data center investments and air transport.
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