Thu, Aug 18, 2022 @ 16:43 GMT
HomeLive CommentsAustralia Westpac leading index dropped to 0.58 in May

Australia Westpac leading index dropped to 0.58 in May

Australia Westpac leading index dropped from 1.09% to 0.58% in May, still indicating above trend growth for 2022. Westpac said, “the components of the Index are indicating an important emerging theme around Australia’s growth prospects – a significant shock to consumer confidence.”

On RBA policy, Westpac expects the central bank to hike a further 50bps in July. It assessed that at 1.35% after the hike, interest rate is still below the neutral setting. Given the tight labor market and rising inflation, further monetary tightening can be expected through 2022.

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