Westpac Economics Weekly Update

A quiet week for Australian data has seen markets instead focus on developments in the US. The July FOMC meeting statement indicated a first rate hike is imminent, with the labour market having improved further. However, US Q2 GDP and associated revisions to history highlight the downside risks to the normalisation process -- i.e. lower trend growth reduces the need to raise rates. Next week, the RBA will be in focus.


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Elliot Clarke
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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