Australian wages data due today - "will be watched closely for (RBA) rate hike forecasts"

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Australian wages data due today -  "will be watched closely for (RBA) rate hike forecasts"

Posted earlier, preview 1:


    Economic calendar due from Asia - Wednesday 18 May 2022 - Fed's Evans speaking


Also this a little after:


    Australian data due today will be key for the next RBA rate hike (on June 7)


Adding a little more, this from ComSec (Australian broker):

    Data on wages growth (Mar quarter) due today while key jobs data due on Thursday. Both will be watched closely for rate hike forecasts. Ahead of the data, Bloomberg currently pricing in a ~32bps lift in the cash rate in June.


And from National Australia Bank:

    An upward surprise to Au WPI print today would show wage pressures being more prevalent than the RBA thought in May, increasing the risk of a supersized 40-50bp rate hike in June. NAB's 0.7% q/q wages forecast is broadly in line with the RBA's May SoMP and is consistent with a 25bp move.

The next RBA meeting is June 7, Governor Lowe will be hiking again.

Source: Australian wages data due today -  "will be watched closely for (RBA) rate hike forecasts"

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