Internet Banking


Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, Commodities

Along with a barrage of economic data releases this week, we have the regular monthly Reserve Bank of Australia Board meeting on Tuesday. With the RBA unlikely to do anything with rates (as widely expected by the market), the focus will turn to economic growth data (GDP) for the March quarter.

The Australian economy is forecast to have grown by 0.9% in the quarter to bring annual growth to 3.2%, up from 2.8% last quarter. On the surface this looks to be a positive result, however economists are already forecasting a fairly large pull-back in the June quarter given the recent weakening in retail sales and a considerable slowdown in exports


There will also be some focus on our share market this week after the price of iron ore fell 4% last Friday putting downward pressure on our resource stocks - which will be a loggerheads with Wall Street that posted a record close on Friday night.

Source: Rural Bank


Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879