The odds have increased of there being three more interest rate cuts before the end of the year.
Economists say that is because of both the slowing rural economy and weaker than expected inflation.
The Consumer Price Index has risen less than half a percent over the past twelve months.
It would have been even lower if there had not been an eight percent rise in petrol prices in the three months to June.
Economists are predicting the Official Cash rate could be cut to two and a half percent by the end of October.
Watch the full Talk Money report.