Australia Consumer House Price Sentiment Could Justify RBA Hold in Feb
By Sophia Rodrigues
Published On 22 Jan 2020 , 11:36 AMConsumer sentiment fell 1.8% to 93.4 in January from 95.1, the Westpac-Melbourne Institute Index of Consumer Sentiment showed. The fall was in response to the devastating bushfires and while the 1.8% drop was not as severe as one would have expected, Westpac points out this might be because the index was already at a low level.
More interesting in the survey were housing related sentiment, with "time to buy a dwelling" and "index of house price expectations", both rising sharply in January. Westpac said the boost in optimism this time has beem more "dramatic" than in previous cycles, and indicate the current period of positive price action is unlikely to end in the near term.
The question is whether the RBA will take comfort from this continuing impact of easy monetary policy on housing market, and make a case for hold in February?
LATEST SNIPPETS
Australia jobless rate drops to 6.4%; hours worked falls sharply due to leave
Australia's unemployment rate fell to 6.4% in January from 6.6% as the number of employed rose 29,100 while the n...
Published on : 18 Feb 2021 , 12:08 PMANZ analysts see NZ in leading position to normalize monpol
Forex analysts at ANZ have created an interesting pressure gauge to measure and rank the distance that each G10 econo...
Published on : 17 Feb 2021 , 11:35 AMKey headlines from RBA statement Tuesday
From the RBA's February Monetary Policy Decision statement:
--QE extension of A$100 billion after current...
AOFM updates issuance guidance for rest of the year
Following the release of MYEFO on Thursday, the Australian Office of Financial Management has updated issuance plans...
Published on : 18 Dec 2020 , 09:06 AMFinally the MYEFO date...
After a few phone calls, I finally managed to get confirmation that MYEFO will be published on Thursday. Even the Tre...
Published on : 14 Dec 2020 , 10:45 AMHeadlines from RBA Debelle's speech Tuesday
Headline from RBA Deputy Governor Guy Debelle’s speech Tuesday:
--RBA CAREFULLY MONITORING IMPACT OF...
Published on : 24 Nov 2020 , 01:30 PMRBA not buying bonds under yield target; A$2B under QE
The RBA will buy A$2.0 billion of November 2024 to May 2028 AGS under the A$100 billion QE program today.
T...
Published on : 19 Nov 2020 , 11:23 AMRBA buying longer-term Semis today
The RBA is buying A$1.0 billion of Semis with maturities in the July 2028 to May 2032 range. This is part of its purc...
Published on : 18 Nov 2020 , 11:30 AMRBA again buying April 2024 under yield target plus A$2B QE
For the third time in a row, the RBA is buying bonds under the 3-year yield target policy at the same time as it is p...
Published on : 16 Nov 2020 , 11:20 AMCBA economists see Australia jobless rate at 5.75% by end-2021
A very bold set of forecasts from CBA economists who have just upgraded their forecasts for Australian economist.
... Published on : 13 Nov 2020 , 10:20 AM