Inflation? Look, probably not, and here's why.
It's quite possible that the top of the annual inflation target band will be breached by the headline rate when the next CPI data is released on 23 July, especially since the soft headline print of 0.4% in the June 2013 quarter will drop off this time around.
But when you look at how the headline inflation seen to date has arisen, a slightly different picture emerges.
Driven largely by exchanges rates and commodity prices, tradables inflation on the other hand, can be quite erratic over the short term, and tradables inflation has been increasing of late as the currency has fallen back below parity.
To some extent what happens here will depend upon the fate of the dollar, and this may partly be deemed to be outside of Australia's control.
Another factor raised frequently, is that lower rates could see house prices rising too quickly.
However, if you've been following the RBA's rhetoric on that point closely via its statements on monetary policy and speeches, you'd probably conclude that the bank appears to have remained fairly sanguine throughout the last couple of years.
The inversion of the implied yield curve was significantly shallower a couple of days ago than it is now, implying that a cut later in the year is considered much more likely.