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Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, General

Perhaps it is just the Northern Hemisphere summer and the fact that the Olympics have been serving as a bit of a distraction, but financial markets do feel a little quiet at the moment, trading in light volumes and narrow ranges.

This week also looks to be a quiet one (for economic data releases) although it is the busiest week for company reporting, so our share market may get a bit of volatility.

That said, last week’s almost record low wages growth and fall in the unemployment rate don’t rule out a further rate cut, or cuts, by the RBA given there is no sign of wage rises picking up in the near term and a wide range of factors are maintaining downward pressure on inflation and interest rates.

The market continues to expect a further rate cut from the RBA, most likely before the year end.

Source: Rural Bank


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