Chart: RBA Index of Commodity Prices

Chart: RBA Index of Commodity Prices. Yesterday preliminary estimates from the RBA showed the commodity price index declined by a further 2.7% in February. The index has now fallen by 16.2 per cent in Australian dollar terms over the past year - largely driven by falls in bulk commodity prices. Ironically, shares in RIO and BHP both rallied strongly on the prospect that further rate cuts in China would stimulate manufacturing activity and thus demand...