Westpac Economics Weekly Update

It certainly has been an eventful week. The Australian CPI came in well below expectations on a headline and core basis; as a result, market pricing for a cut at the RBA's November meeting has risen to over 50%. We expect the RBA will remain on hold and continue assessing the growth pulse. In the US, the FOMC made a number of changes to their statement to highlight a rate hike in December is highly likely. US GDP continued to point to robust domestic demand growth, supporting the call for December. Next week, the RBA's November meeting will be the focus.


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Senior Economist
Westpac

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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