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Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, General

The recent terrorist attacks in France and the failed coup in Turkey are taking a large amount of focus at the moment and the impact is still to play its course in financial markets. There appears to be a bit of “risk-off” sentiment this morning, with safe-haven buying of US dollars and gold emerging in early trade.

With a quiet week ahead, all eyes will be on the June quarter inflation data out on 27 July where economists expect underlying inflation to remain low and financial markets will speculate on another RBA rate cut in early August. The argument for a rate cut include a persistently low underlying inflation, a slowing in the labour market, the risk posed by a potential downgrade to Australia’s credit rating and some pressure from a rising Australian dollar.

Source: Rural Bank


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