Weekly Reports | Apr 22 2022
For a more comprehensive preview of next week's events, please refer to "The Monday Report", published each Monday morning. For all economic data release dates, ex-div dates and times and other relevant information, please refer to the FNArena Calendar.
By Greg Peel
The highlight of the third of three consecutive four-day weeks next week will be the release of Australia's March quarter CPI numbers on Wednesday, followed by the PPI on Friday. The headline CPI is forecast to come in around 4.6%, up from 3.5% in December.
The RBA is not expected to implement its first rate hike in May, not wishing to be seen to be impacting the election, but if the number comes in much "hotter" than assumed the board's hand may be forced. Such a move is not without precedent.
Alternatively, the RBA may bite its tongue, preferring to wait until June as expected but instead of the first hike being 15 points, to take the cash rate to 0.25%, it might be 35 points, to jump straight to 0.50%.
Australia will also see March private sector credit data next week. Australian and New Zealand markets will be closed on Monday.
The Bank of Japan holds a policy meeting next week. China will release its April PMIs on Friday.
The US will see a first estimate of March quarter GDP, along with numbers for durable goods, house prices and home sales and consumer sentiment. Friday brings March PCE inflation, but the Fed has all but confirmed it will hike 50 points in May regardless.
In the local market, the quarterly update season will roll on.
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