Jobs surge supports RBA’s growth forecasts

Original article by David Rogers
The Australian – Page: 27 : 15-Dec-17

The latest jobs data may strengthen the case for the Reserve Bank of Australia to begin lifting the cash rate in late 2018. Some 62,000 jobs were created in November, and 383,000 in the last year, while the unemployment rate was steady at 5.4 per cent. The Australian Bureau of Statistics data also supports the central bank’s view that economic growth will be above its trend rate in 2018. However, Tom Kennedy of JP Morgan says the RBA is likely to keep interest rates on hold while the unemployment rate remains at its current level, while George Tharenou of UBS does not expect a rate rise until 2019.

CORPORATES
AUSTRALIAN BUREAU OF STATISTICS, RESERVE BANK OF AUSTRALIA, JP MORGAN AUSTRALIA LIMITED, UBS HOLDINGS PTY LTD, AMP CAPITAL INVESTORS LIMITED, AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED – ASX ANZ, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

w

Connecting to %s