Reserve Bank in focus
The Reserve Bank and home prices dominate attention in Australia over the past week. The Reserve Bank Boardmeets on Tuesday; Governor Lowe delivers a speech on Thursday and the Bank will release latest economicgrowth and inflation forecasts on Friday.
The week kicks off on Monday with the release of the CoreLogic measure of home prices as well as the Performance of Manufacturing index.
Manufacturing is currently in good shape, while home prices continue to lift across most capital cities. Across the nation, home prices rose by a substantial 1.4 per cent in March, matching similar gains in February and December 2016. In fact over the four months to March home prices have accelerated by 4.9 per cent – the strongest four-month period in 18 months. But data currently points to only a modest 0.2 per cent rise in prices in April.
On Tuesday data on consumer confidence is issued at 9.30am AEST. While the Reserve Bank hands down the rates decision at 2.30pm.