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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. With inflation rightly noted as being uncomfortably high, there was a greater emphasis on “the im...
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.