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29 December 2023,01:44

Weekly Outlook

RBA’s Rate Hike Determined By Incoming Data

29 December 2023, 01:44

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Tuesday, 2 Jan, 05:30 – RBA Interest Rate Decision (Dec)

At its latest interest rate decision, the Reserve Bank upheld its benchmark rate at 4.35%. The RBA’s stance on potential monetary policy tightening hinges on incoming data and evolving risk assessments, highlighting the board’s steadfast commitment to achieving target inflation.

Friday, 5 Jan,15:30 – US Nonfarm Payrolls (Dec)

In November, nonfarm payrolls increased by a seasonally adjusted 199,000, surpassing the estimated rate of 180,000. Federal Reserve officials are closely monitoring these job figures as part of their efforts to combat inflation.

Friday, 5 Jan,15:30 – US Unemployment Rate (Dec)

The labour market’s strength is evident as the unemployment rate fell to 3.7%, surpassing the projected 3.9%. This decline was backed by a slight rise in labour force participation. If this trend persists, the increase in available labour could eventually help moderate wage inflation.

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