Oil cuts, wage rises and rate hikes
Is the rise in award wages inflationary? NAB’s Rodrigo Catril looks at Australian inflation and the RBA decision in today’s Morning Call.
NAB Morning Call · NAB - The Morning Call
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Show Notes
Monday 5th June 2023
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With debt ceiling concerns taken away, its back to worrying about inflation and wondering how far central banks will push. NAB’s Rodrigo Catril says it’s still likely thew RBA will pause tomorrow, but a higher-than-expected rise in award wages in Australia on Friday have increased the chance that there will be a hike as soon as tomorrow. The Bank of Canada faces the same dilemma, hike again or hold and see? Oil is expected to rise today after the OPEC+ meeting over the weekend, when Saudi Arabia volunteered a million barrels a day cut in production.
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