So, who’s be an economic prognosticator, eh? You go all in on an outcome in the morning and by lunch time you’re an idiot when the new data rolls out. ANZ job ads has printed a juicy bounce at 6% MOM.
But more seriously, one doesn’t change one’s call based upon a single indicator. As I posted this morning, there are a dozen indicators suggesting rates need to be cut. Whether the RBA does it, who knows? But they should.
Onto the ANZ release and here’s the headline chart:
In short ANZ sees signs of momentum in mining states, tentative stabilisation in credit states and sticks with its March 25bps rate cut. I’m having trouble transposing the text for some reason so the full report is below.
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