Australian Monthly Wrap

The Australian economy is exhibiting signs of slowing growth, characterized by weakening household spending, a cooling housing market, and softening labor statistics. ANZ expects the RBA to maintain the cash rate at 4.35% for an extended period.

Key Takeaways

• 1.Australian economic growth momentum is easing as household spending and labor market conditions soften.
• 2.The RBA is expected to keep the cash rate at 4.35% for a prolonged period, with a June hike appearing unlikely.
• 3.Global monetary tightening continues, with ECB hikes expected and the Fed expected to remain on hold before December cuts.

Table of Contents

• Rates and policy: Budget to remain in deficit; cash rate peaks
• Australian data: Signs of GDP softness
• Global: Oil prices and global monetary tightening
• Data releases
• Key Charts
• Recently published reports
• Forecasts

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