9/11/2023 0 Comments Snap on stock price todayInflation figures will be released on Wednesday with expectations the annual rate slows to 7.1 per cent in February, from 7.4 per cent in January. “This new data seems unlikely to be enough to cause the RBA to pause its cash rate hikes next week, following high monthly employment figures in February, and the interest rate increases in the US, UK and EU in the past week,” said Brendan Rynne, KPMG chief economist.Įarlier this month, the Reserve Bank indicated it was closer to pausing its interest rate increases as policy is in restrictive territory, but a halt in April would depend on employment, inflation, retail trade, and business data.Īustralian unemployment surprised by falling back to a near 50-year low of 3.5 per cent in February and surveyed business conditions remain close to historic highs. Fears of a banking meltdown receded after First Citizens BancShares agreed to take on the deposits and loans of failed Silicon Valley Bank, sending bond yields, shares, and the Australian dollar higher.Īustralian retail sales edged up 0.2 per cent seasonally adjusted in February, slightly beating forecasts of a 0.1 per cent gain, according to data released by the Australian Bureau of Statistics on Tuesday.
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