Free Trial

MNI BRIEF: First Aussie Spending Intentions Dip Post RBA Hikes

MNI (PERTH)
MNI (Perth)

Further evidence that the Reserve Bank of Australia's six consecutive interest rate hikes since May are finally beginning to bite, as the Commonwealth Bank's Household Spending Intentions Index falling for the first time since April.

The HSI fell 0.5% m/m in September led by declines in health and fitness, home buying, and household services. The index remained 14.1% higher than the same time last year when much of eastern Australia was still in Covid lockdowns, though the y/y rate slowed from a 15.2% y/y pace in August. The home buying intentions index fell 4.4% m/m in September, leading to a y/y slide of 24.6%.

Robert covers RBA and RBNZ policy and the economy for MNI in Australia.
True
Robert covers RBA and RBNZ policy and the economy for MNI in Australia.
True

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.