Highlights This Week – RBA Lowe Appearances, Jobs Data

After last week’s further rate hike and the accompanying hawkish statement, the focus of the week is likely to be RBA Governor Lowe’s parliamentary appearances on February 15 and 17. He is likely to be questioned on the extent of tightening to date and his lack of a press conference while he spoke to bankers privately.

• Governor Lowe answers questions from the cross-party Senate Economics Legislation Committee on Wednesday at 11.15 AEDT. Then on Friday he appears before the House of Representatives Standing Committee on Economics at 9.30 AEDT.
• Survey data is published on Tuesday on both consumers and businesses. Westpac consumer confidence for February and the January NAB business survey are released. The latter will be watched closely for developments in cost pressures, especially labour. The consumer confidence is depressed but may have troughed. January CBA household spending intentions print on Wednesday.
• Melbourne-Institute February consumer inflation expectations are published on Thursday. For over six months the series has been moving in the same direction as petrol prices. The latter will be released later today for the MI survey week.
• Thursday sees the January jobs data. Analysts expect a 20k rise in employment after falling 14.6k the previous month and that the unemployment rate should be stable at 3.5%.