More clues on rates this week
After all the flurry and excitement of rate cuts last week, the next few days will give analysts plenty of fodder for further predictions on directions of rates.
Monday brings December housing finance figures along with a quarterly statement on the economy from the Reserve Bank of Australia. Both will give an excellent, although rear-view, snapshot of the economy.
Tomorrow the NAB January Business survey is published and with consumer and business confidence a key driver of the economy this will be closely watched. Overseas, all eyes will turn to Alan Greenspan as he reports to the US Senate.
On Wednesday the Westpac/Melbourne Institute Consumer Confidence survey will give further weight to Tuesday’s NAB survey, provided they concur, whilst on Thursday the Melbourne Institute reports results of its consumer inflationary expectations survey. Released the same day is the RBA regular monthly bulletin.
The week ends up on Friday with a swag of announcements in the US including January inflationary figures (PPI), housing starts, industrial productions and capacity utilization. As a result, analysts should have a busy time digesting and resetting forecasts.
View our latest Rate Watch – BankChoice's interest rate forecast.