I don't think the data changes anything in as much as it supports other evidence that domestic demand remained robust late last year.
More Quotes from Adenaan Hardien:
The bottom line is that credit-based spending remains incredibly strong. Debt levels continue to rise and if there is any upward adjustment to interest rates, that would have major impact on debt serving costs.Adenaan Hardien
There has been a slow down in real growth, but at 5,6 growth is still fairly strong. If the Reserve Bank was concerned before about strong demand, these numbers would certainly not ally those fears. We still think the bank will leave rates unchanged this year.
Adenaan Hardien
Given that the outcome was in line with what had been anticipated, I don't think that today's release will increase the probability of an interest rate hike this year.
Adenaan Hardien
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