It is going to be very hard for the Reserve Bank to hike after the raft of data that was just released.
Here is a quick Snapshot:
All in all these data speak of a challenged economy with growth that is too narrowly focused.
It is too soon for the RBA to hike on this, yesterday’s and the recent run of data.
The SoMP was a warning to complacency on the interest rate outlook for the market but the data is a warning to the RBA of the risks of hiking too far or hard.