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May 19 - 02:55 PM

AUD: More Validation For The RBA’s Cautious Stance - Credit Agricole

By eFXdata  —  May 19 - 12:00 PM

Credit Agricole CIB Research discusses the RBA policy trajectory in light of this week's AUD jobs data.

"Combined with yesterday’s soft wages growth data, today’s labour market data suggests the RBA will be able to continue raising rates in a steady manner – we expect by 25bp at its remaining meetings this year. Indeed, labour force participation will likely rise in the coming months as Australia’s international borders have re-opened for foreign students and tourists as well as migrants, which could help ease labour market tightness," CACIB notes. 

"For the AUD, it continues to suggest the RBA hiking rates will not be a source of strength as the central bank will not match the aggressive rate hikes of other central banks," CACIB adds.

Source:
Crédit Agricole Research/Market Commentary

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