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Survey Data Print, Focus Of Week Is RBA Lowe’s Speech

AUSTRALIA DATA

The focus of this week is likely to be RBA Governor Lowe’s speech at the ESA conference on Wednesday. There is also important survey data out.

  • On Tuesday CBA household spending intentions for June print. They have stabilised around 4.5% recently and May rose 4.7% y/y. The series is nominal though and so includes higher prices. July Westpac consumer confidence is also released and is likely to have been supported by rates being unchanged on July 4.
  • NAB business confidence and conditions for June are also out on Tuesday. Confidence has been a bit volatile but conditions have begun to moderate. The cost/price components rose in May and will be monitored closely.
  • On Thursday July Melbourne Institute inflation expectations print. They were 5.2% in June and have been sticky above 5%. The rate pause and lower headline May CPI may help bring them down.

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