August 9, 2016

Australian Markets Weekly: 8 August 2016

Last week’s RBA rate cut has strengthened the argument that the RBA is uneasy about the outlook for Australian inflation.

House price inflation being remodelled

  • RBA cuts again amid signs inflation will remain below target for some time yet
  • Measurement of housing inflation in the melting pot as CoreLogic methodology changes
  • House price acceleration in recent months now not so worrisome, the RBA finds
  • Sydney and Melbourne auction clearance rates up again this weekend after rate cut
  • Even so, headwinds lining up against the housing market
  • NAB Business Survey (and forecast update) tomorrow; Glenn Stevens delivers his last speech as Governor on Wednesday; consumer sentiment and housing finance Thursday
  • Offshore this week:  China growth reports Friday; RBNZ highly likely to cut Thursday

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