Australia’s consumer confidence hits 6-month low amid tariff concerns – BBH
|Australia’s business survey was mixed but consumer confidence plunged, BBH FX analysts report.
RBA Governor Michele Bullock gives a keynote speech Thursday
"The NAB March Business conditions rose 1 point to 4 remain a little below average while business confidence fell 1 point to -3. Meanwhile, the Westpac-Melbourne Institute Consumer Sentiment index dropped to a six-month low at 90.1 in April from 95.9 in March due to the tariff turmoil."
"RBA Governor Michele Bullock gives a keynote speech Thursday. Markets will look to see if Bullock pivots away from her cautious policy guidance to an outright dovish stance due to the downside risk to Australia’s economy from the US tariffs. Australia is a small open economy meaning it is heavily reliant on international trade."
"Cash rate futures have fully priced-in a 25bps cut at the next May 20 RBA meeting and 40% odds of an additional 25bps cut."
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