Flash PMI: Australian private sector returns to contraction as price pressures build
Australia's private sector shrank in October for the first time in five months, with input costs rising at the fastest pace since May.
Australia's private sector shrank in October for the first time in five months, with input costs rising at the fastest pace since May.
RBA Deputy Governor Andrew Hauser signalled a fifth rate hike this year is possible in November, prompting Goldman Sachs to revise its forecast. Asian markets…
RBA Deputy Governor Hauser flagged the Q3 trimmed mean will be above expectations, capacity pressures are tighter, and the bank must act on supply shocks.
RBA Deputy Governor Hauser said the inflation outlook is worse than forecast, keeping a November rate hike possible.
RBA Assistant Governor Christopher Kent cited rising neutral rates and questioned whether policy is restrictive enough after a weak jobs report.
Australia's weak September jobs report pushed AUDUSD down over 1%, with sellers gaining control after key support breaks. Next downside target is 0.68488.
Australian employment fell 39,300 in September and unemployment held at a five-year high of 4.7%, prompting traders to trim their RBA hike bets.
Australia's unemployment rate was 4.7% in September 2026, above the 4.6% forecast, as employment fell by 39,300.
NAB expects Australia's September jobs data to show a 20,000 gain and unemployment at 4.6%, with risks tilted to a lower reading.
Australia's September jobs report expected to show unemployment steady at 4.6%. BoJ and BoE speakers also on the calendar.
Goldman Sachs sees the RBA minutes as hawkish and says they lower the bar for a November hike; it still expects the cash rate to stay at 4.60%.
RBA board voted for 25 bps rate rise to 4.60% in September, citing materialised inflation risks and higher neutral rate. Further increases remain on the table.
RBA minutes from its September meeting are due Tuesday, with September labour force figures out Thursday. Economists expect unemployment to stay at 4.6%.
RBA minutes and September jobs data due this week will influence expectations for Australia's next rate move, with unemployment forecast to hold at 4.6%.
Australian households are weathering rate hikes better than expected, with debt-to-asset ratio at lowest since 1997, Deutsche Bank says.