Page 2 - May Statement News Today

Westpac economists say there are signs the labour market 'has not cracked yet', which raises the likelihood the RBNZ will need to upgrade its economic growth forecasts - adding upside risk to the inflation outlook

The Reserve Bank left the Official Cash Rate unchanged at 5.5 % as universally expected by market analysts and as largely priced by financial markets.

A report predicts two south-west towns will experience the state's highest growth in median price over the next...

It has been a busy but highly-informative week, with the RBA, FOMC and ECB all meeting and a slew of significant data releases in between.Beginning in Australia, the RBA’s 25bp rate hike came as a surprise to ourselves and markets. Crucial to this decision was the Board’s interpretation of the Q1 CPI report, focussing on the strength of inflation amongst service components despite the moderation in the headline and trimmed mean measures seemingly running ahead of the Board’s expectations....

The RBA highlights the key to the policy debate – the risks to the inflation forecasts from sticky services inflation. The Reserve Bank’s May Statement on Monetary Policy shows that the Bank has lowered its growth and inflation forecasts for 2023 from the February Statement.

Our lawyers provide an overview of some of the most significant developments in cybersecurity and data privacy in the United States in 2022 and look ahead to trends for 2023.

Australian futures 0.8 per cent lower. Rio Tinto sticks to iron ore guidance, shares fall in New York with iron ore. TD sees RBA lifting 0.75ppt. Follow updates here.

MacroBusiness Access Subscriber Only Content By Gareth Aird, head of Australian economics at CBA: Key Points: The Australian economic data dump this week added weight to our view that wages and inflation outcomes will be stronger than the RBA has forecast. The Q1 21 wage price index printed a little higher than market expectations and indicates that underlying wages growth is running at a six month annualised pace of2.0%. Both the unemployment and underemployment rates dropped in April to leave...

Portfolio managers from Janus Henderson and T. Rowe Price provide their views on the US inflation spike and implications for Australia

ASX to slip, iron ore extends rally Share Iron ore’s latest surge is not done yet. Read the latest here. Roaring banks and miners lifted the ASX on Friday, read about it here. Australian shares are set to edge lower to start the week, even with iron ore as well as both the Dow and S&P 500 resetting their respective record highs. ASX futures were down 4 points or 0.1 per cent to 7055. The Australian dollar leapt 0.8 per cent to US78.44¢. The yield on the US 10-year - which plunged 10 basis po...