At 0315 GMT the Reserve Bank of Australia's Luci Ellis, Assistant Governor (Economic) will be speaking.
- At the Ai Group Business Lunch.
I don't have a topic as yet for this speech. Ellis heads the economics team at the RBA so its very likely she will have something to say on the labour market, and do note she is the first speaker we have had from the RBA since last week's white-hot jobs report:
- Australian May Employment Change +115.2K (expected +30K) & Unemployment Rate: 5.1% (expected 5.5%)
- Australia's 'stunning' jobs report, wage pressure 'will only grow'
The report catalysed rate hike calls from:
- More on Westpac forecasting an RBA cash rate hike in early 2023
- CBA now forecasting the RBA to hike rates from November 2022
Although ANZ had pre-empted the report with their early call:
- ANZ's latest call on RBA rate hikes - beginning in H2 2023
- The labour market is tightening faster than we expected, potentially pressuring our call for a rate hike in H2 2023.
HSBC is not so sure though:
