Australian data: August building permits , home loans both up m/m

The m/m building permits data is encouraging, but the poor y/y trend takes much of the shine off.

Australia job advertisements dipped 0.1% m/m in September. Despite being down that's not too bad a result given the strong growth in August.

• for the y/y -8.2%

Job ads are 50% higher than pre-covid levels

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The focus for Australia for the session is the Reserve Bank of Australia policy decision due at 2.30pm local time, which is 0330 GMT and 11.30pm US Eastern time.

(spoiler - on hold expected)

• RBA policy announcement due Tuesday, 3 October 2023 - preview
• RBA policy decision due Tuesday, 3 October 2023 (Sydney time) - "a certain hold"

• RBA policy meeting - on hold expected
• Rising Australian inflation, "its not safe to conclude that the RBA rate cycle has peaked"
• Further ahead:
• (yet to come) the November RBA meeting is still live
• Australian fund manager says there's a 40% chance of an RBA rate hike in November/December