Since last month’s wrap, we have seen further gains in most agricultural commodity prices, tentative signs of a stabilisation in fertiliser prices, combined with a lower AUD and a weakening global growth outlook.
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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 changing workplace – attitudes to jobs, working from home & barriers to returning to the office.
RBA to hike rates in June, July, August and November, followed by a more gradual path through 2023 and 2024.
NAB now sees the first rate hike coming in August; Gradual normalisation to follow through in 2023 and 2024.
Wellbeing rose in Q4 to levels last seen before the pandemic & household financial stress remains well below the survey average.
Despite everything the COVID-19 pandemic has thrown at the small business community the spirit of entrepreneurship is alive and well in Australia.
RBA to hike in November, QE to end in February as expected.
