RBA meeting October 5:
- announcement due at 0330 GMT (which is 2.30 pm Sydney time - please note Sydney will switch to daylight saving time this coming weekend)
- the consensus is for a 50bp rate hike
- Morgan Stanley concur
Morgan Stanley expect the RBA hike to come as the Bank maintains its attempt to restrain inflation. Says the RBA faces a difficult balancing act including a possible slowing of demand with cooling house prices weighing on consumer spending.
MS says it foresees a weaker jobs market in 2023 in Australia
- & have set their 2023 year-end jobless forecast at 4.2%, from 3.9%
- inflation forecasts 3.9% at end-2023 (for both headline and core)