Australian data for the July, August & September quarter of 2022.
Current account balance comes in at -2.3 bn AUD
- expected +6.2bn aud
- prior +18.3bn
Net exports to contribute -0.2% to Q3 GDP
- expected -0.6%
- prior +1.0%
Australian GDP data for Q3 will be published on Wednesday, 7 December 2022 at 0030 GMT. The data also show that government spending will net detract from the GDP result. That may well be not such a bad thing given the enormous, and welcome, splash of cash to deal with the pandemic in prior years.
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Yet to come from Australia today - Reserve Bank of Australia decision.
- Westpac are forecasting a +25bp cash rate hike at the RBA meeting on December 6 2022
- National Australia Bank - RBA is expected to hike its cash rate by 25 bps in December, February, and March to 3.60%
Week Ahead: highlights include OPEC+, RBA, BoC, China Trade/CPI, Uni. of Mich.
Reserve Bank of Australia Governor Lowe