The easing of inflation pressures in Australia supports Nomura Securities' prediction that the Reserve Bank of Australia will begin cutting interest rates from February. The CPI Indicators for November indicate that the decline in inflation pressures in the fourth quarter exceeded expectations. The Reserve Bank of Australia may start a moderate easing cycle next month. It is expected that data released next week will show an increase in the unemployment rate in December, which will strengthen this belief. Nomura anticipates that the Reserve Bank of Australia will lower interest rates in February, May, and August, bringing the cash rate back to a 'neutral' level of 3.60%.