Another batch of key economic data at home and offshore due this week will help gauge whether central banks will have more work to do to keep inflation under control.
Australia’s sharemarket is set for a subdued start while investors await another batch of key economic data both at home and offshore to help gauge whether central banks will have more work to do to keep inflation under control.
“The RBA hopes they are done, and market pricing suggests that hope may be well-founded,” National Australia Bank economists wrote. Other data points of note in Australia include Tuesday’s Westpac’s consumer sentiment report and NAB’s business confidence survey. Bond traders in the US have also been upping their bets that the Federal Reserve is not yet done with its aggressive monetary tightening. With US cash rates between 5.25 per cent and 5.50 per cent, the data will help decide whether market pricing is indeed right.
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