Thursday 28th April 2022
Australian inflation rose more than expected yesterday. NAB’s Ivan Colhoun says it didn’t come as a complete surprise. NAB’s Business Survey has been showing rising input costs, and its likely inflation will rise till further in the next quarter. All that points to a high likelihood that the RBA will lift interest rates next week. Elsewhere, markets have had a temporary does of optimism, although NAB’s Rodrigo Catril says a resolution has to be found for Europe’s energy problems. There just aren’t enough global supplies to completely cut out Russia. US GDP and German CPI are two significant data releases today, along with the business activity outlook for New Zealand.