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RBA & Jobs Data Focus Of The Week

AUSTRALIA

The highlights of the week will be Tuesday’s RBA meeting, where little change is expected, and Thursday’s February employment report, which should see some payback from January’s weak result.

  • The RBA announcement is tomorrow and it is unanimously expected to leave rates at 4.35% and so there will be particular focus on any changes to the statement and the mild tightening bias. Governor Bullock will hold a press conference at 1530 AEDT.
  • February employment data are released on Thursday and forecast to see some bounce back from January’s disappointing holiday-impacted results. Bloomberg consensus expects jobs gains of 40k after 0.5k the previous month and for the unemployment rate to ease 0.1pp to 4.0%.
  • Preliminary March Judo Bank PMIs are also out Thursday. In February the services sector returned to growth.
  • RBA chief operating officer Woods will participate in a panel at a Reuters conference on Thursday at 1110 AEDT.

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