more to come
Australian Q1 Retail sales -0.4% q/q
- vs. -0.2% expected and +0.3% prior
The sustained high cash rate and cost of living pressures are weighing on Australian spending.
Despite the RBA holding the cash rate high, inflation is showing a tendency to be sticky above the target rate.
The RBA meet today (announcement due at 2.30 pm Sydney time, 0430 GMT, 0030 US Eastern time) and on hold is expected, with a hawkish tilt. There is no respite for Oz in sight yet.
(More previews at that link)