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.
The Reserve Bank of Australia will take note of rising Australian business confidence and eased costs, despite still deteriorating business conditions amid last week’s decision to stay rates at 3.6%.
RBA Governor Philip Lowe previously stated business confidence was one important factor in last week’s interest rate decision, alongside jobs, retail sales and the monthly Consumer Price Index. During a speech delivered following the April 4 board meeting, Lowe noted supply-side issues such as energy costs, population, housing and productivity would inform future decisions (See: MNI: RBA's Lowe Notes Supply Issues, Expects Further Hikes).
Business conditions fell 2 points to 16 index points in March, while business confidence rose 3 points to -1 index point, according to the National Australia Bank Monthly Business Survey. Forward orders rose 1 point to 4 index points, as much of the February fall in wholesale was reversed, the survey noted. Price and cost growth eased, with labour cost growth at 1.9%, down from February’s 2.6%. Purchase cost growth was 1.8%, down from 3.1%, while overall price growth was 1.2%, down from 1.6%.
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.