Wall Street Journal: “Strong Australian Services Sector Growth A Headache For RBA”

A piece in the Wall Street Journal on the strength of the services side of the Australian economy and how its

• something that is sure to alarm the Reserve Bank of Australia, which remains engaged in a fight to cool inflation pressures.

The article is in response to the services PMI data from earlier, where I noted:

• A niggle is the price pressures, indicating the RBA is not going to be cutting any time soon

Yep. WSJ concurs. Here is the link, may be gated but if you can access it its worth a read.

The next RBA meeting is 6–7 May 2024, with no change to the cash rate expected.

This article was written by Eamonn Sheridan at www.forexlive.com.