Australia and New Zealand Weekly

Westpac has pushed back its expectation for further RBA rate hikes to August and September following a more cautious tone from Governor Bullock. Meanwhile, structural trends like AI and ageing populations are viewed as net positives for female workforce participation in Australia.

Key Takeaways

• 1.Westpac has shifted its RBA rate hike forecast, now expecting two additional hikes in August and September rather than June and August.
• 2.Long-term trends including population ageing and the AI revolution present unique labor market opportunities for Australian women.
• 3.The New Zealand labor market is stabilizing with the unemployment rate falling to 5.3% in Q1, though Middle East conflict risks remain a headwind.

Table of Contents

• Economic Insight
• The Week That Was
• Focus on New Zealand
• Australia: 2026/27 Federal Budget
• Australia: March Wage Price Index (%qtr)
• Australia: Q1 Housing Finance Approvals (%qtr)
• NZ: Q2 RBNZ Survey of Inflation Expectations (%yr)
• NZ: Apr REINZ House Sales and Prices (%yr)
• NZ: Apr Monthly Selected Prices (%mth)
• US: Apr CPI (%mth)
• For the week ahead
• Economic & financial forecasts

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