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Although employment growth disappointed yesterday, and along with wages data from earlier in the week, remains consistent with a rate rise of 25bp by the RBA in June.
The Reserve Bank of Australia (RBA) has started raising rates for the first time since November 2010. What does this mean for commercial borrowers? Watch now.
Our latest weekly consumer tracking data to 14 May was broadly quite encouraging.
NAB’s Commercial Property Index rose to +11 pts in Q1, building on the gains seen in the last quarter when the index moved back into positive territory for the first time in 2 years.
Consumer stress rises as concerns over cost of living hit a 2-year high. But, ahead of the federal election & with very low unemployment, stress relating to government policy & job security eased.
The S&P500 high to low fall since the early January high puts it down 19% year to date and although not officially in bear market territory yet, looks to be only a matter of time.
Australia’s wellbeing falls, but the gap by income now at its narrowest in almost 3 years. Wellbeing diverging across the country, highest in TAS & lowest in WA. Home ownership a significant differentiator. Household financial stress up slightly but falling for low income earners & rising sharply for those on higher incomes. The share of Australians experiencing some form of financial hardship now at a survey low.
The UK’s unemployment rate fell to it’s lowest level since 1974 and along with a further pickup in average earnings growth, now see money markets pricing 125bps of BOE rate hikes by December.