Today's employment data from Australia was a disappointment.
Employment growth is slowing from its previously strong rate, and there is still little sign of a pick up in wage growth.
- Next Tuesday (April 24) brings Q1 inflation data
- Due at 0130GMT
Headline inflation was last 0.6% q/q, 1.9% y/y
- Core (trimmed mean) was 0.4% and 1.8% respectively (y/y below the 2 to 3% RBA target)
- Core (weighted median) was 0.4% and 2.0% respectively (y/y at the lower point of the 2 to 3% RBA target)
Just thinking out loud; if inflation continues to run along just at or sub target, and if the RBA outlook for inflation is for it continue so .... then how long will it be before the bank starts pondering a rate cut? I can't help but think they are on hold for a good while still .... but, yeah, thinking out loud.
Earlier today from Oz:
