After the Easter weekend, there is the veritable blockbuster of economic news this week. The highlight, at least emotionally, will be the monthly meeting of the RBA, but no one seriously expects any change in the cash rate or the RBA’s rhetoric when the policy press release hits the wires.
More importantly will be the updates on the economy into the early months of 2018, with the release of monthly inflation, the illion business expectations survey, retail trade, building approvals and international trade. All are important guides. Retail trade will be watched for signs of any life after a disappointing Christmas/New Year period. Building approvals have been resilient over 2017 which means there is a pipeline of new supply of dwellings coming on to the market in the next 12 to 24 months. Will there be a glut? House prices are already falling. The international trade surplus should be strong as the high commodity prices and the strong world economy work to boost export receipts.
Let’s hope the numbers are strong.
Source: CBA
