Westpac Australia & NZ Weekly
With all of the major banks now having raised rates, Chief Economist Bill Evans assesses the implications for the RBA ahead of next week's November policy meeting. In the week to come, the Q3 Australian CPI will be the focus. We expect a 0.8% headline outcome for the quarter, but that will still leave annual inflation at just 1.9%. Core inflation is expected to print at a benign 0.5% in Q3, and 2.4%yr. In China, the Westpac-MNI Chinese Consumer Sentiment survey will be released. Meanwhile, in the US, expect the tone of the FOMC October meeting statement to be in line with that of September. Q3 GDP is expected to be materially weaker than Q2; our expectation and that of the market is 1.7% annualised. (VIEW LINK)
An Economist based in Sydney Australia with a particular interest in macro-financial analysis of the Australian and global economy. Having spent a number of years with the Reserve Bank of Australia and Westpac Economics, monetary policy, the...
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