We forecast the Reserve Bank will raise rates by the middle of the year as it works to damp inflation pressures that are still pronounced.
More Quotes from Stephen Koukoulas:
The unemployment rate is likely to break below 5 percent in the months ahead. It will escalate the pressure on the Reserve Bank to raise interest rates, which in turn will be a shot in the arm for the Australian dollar.Stephen Koukoulas
We are still waiting for an improvement in trade to fuel the economy. The trade deficit has been large for a long time.
Stephen Koukoulas
Hopefully we will see trade contribute to economic growth this year after detracting for so long.
Stephen Koukoulas
A mid-year interest rate cut is looking less likely. We had forecast a rate cut in July. That's looking a lot shakier after today's number.
Stephen Koukoulas
Inflation is accelerating to worrisome levels.
Stephen Koukoulas
The credit data, together with the TD-MI monthly inflation gauge for October suggest the Reserve Bank will leave interest rates unchanged,
Stephen Koukoulas
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