China, more talk less action
China continues to hurt the Aussie dollar, alongside local data that supports another pause from the RBA. But only for a month, says NAB’s David de Garis. Nobody can assume they have finished their tightening cycle.
NAB Morning Call · NAB - The Morning Call
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Friday 18th August 2023
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It's becoming a familiar pattern lately, with bond yields pushing higher and equities taking a clobbering. The Aussie also continues to suffer as noises come from China about tackling their economic slowdown, but very little still in the way of sold action. Australia’s rise in unemployment yesterday might ease the pressure on the RBA to lift rates, but NAB’s David de Garis says, only for a month. It seems no country can now assume they have finished their tightening cycle.
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