Australia Westpac-Melbourne Institute Leading Index rose from 3.77% to 4.38% in November. That’s the strongest growth rate in the sixty year history of the measure. Though, Westpac said “the gains still largely reflect the severity of the preceding contraction”. In level terms, the index has now “recouped 80%” of that fall.
Westpac expects RBA to introduce a second AUD 100B QE program in February meeting. That would be followed by two smaller program of AUD 50B each in the year to October 2022.
