These data back the RBA on hold and with a neutral bias for now, with the next move still looking down to us, albeit not until much later in the year.
More Quotes from Michael Every:
The moderation is certainly very slow in arriving, even allowing for the usual lag in data, and these sectors' problems are clearly being mitigated by a pick-up in business investment and commodity exports.Michael Every
This report backs the Reserve Bank remaining on hold ahead. Weakness in retail and transport is being mitigated by a pickup in mining and construction.
Michael Every
The odds of a rate increase on Oct. 27 have shortened. The Reserve Bank is extremely worried over whether the economy will slow rapidly enough ahead to cap obvious inflation pressures. It looks increasingly like it will not.
Michael Every
Since the Reserve Bank of Australia raised rates in March, the housing market has just been going sideways. Rates are on hold until the third quarter of this year.
Michael Every
That was much worse than expected, and the underlying numbers look weak across the board.
Michael Every
They are concerned about inflation first and foremost but they already know that was going to happen because of petrol.
Michael Every
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