OctaFX | OctaFX Forex Broker
Open trading account
Back

Westpac still sees Australian unemployment drifting higher - The Sydney Morning Herald

The surprise fall in Australia's jobless rate is unlikely to be the start of a prolonged downtrend, Westpac senior economist Justin Smirk said, according to The Sydney Morning Herald. 

Key quotes

While rate cuts along with the government’s tax offset payments should help to support demand, we think it will be insufficient to get economic growth moving back to trend or above in 2020.

We continue to see the leading indicators of employment point to a near term softening in employment growth.

We will see unemployment drift higher through the first half of 2020.

Australia's jobless rate unexpectedly fell to 5.1% in December from November's 5.2%, forcing markets to scale back expectations for an RBA rate cut in February.

RBNZ is likely to keep the policy rate on hold in 2020 – Standard Chartered

While recently surprising employment data from Australia have starting shunning odds of the RBA's rate cut, RBNZ is a different thing for Standard Chartered.
Read more Previous

Gold Price Analysis: Short-term support trendline, at $1,550, in focus

Gold prices turn mildly weak while flashing $1,558.80 as a quote during the early Thursday. The yellow metal’s failure to register much upside, despit
Read more Next
Start livechat