The RBA has released its latest monthly Chart Pack. Here are some interesting visuals to consider going into next month’s meeting:
First up, looking abroad where the G-3 economies continue to have flat wage growth but modest unemployment figures since the GFC:
Looking closer to home, yearly GDP growth is still trending down from decade highs – will we see a sub 2% print soon?
The CPI numberwang continues to trend down (while the more important health/education continues to spiral higher):
They finally got this chart on the right axis, the mining capex bust will not be filled in by non-mining:
Will Houses save Holes with even more credit growth? No signs of slowing here:
Meanwhile, wage growth is struggling to keep up with inflation (let alone house price inflation at 5x that figure)
Terms of trade remain elevated as commodity exports keep building:
This chart is still wrong on scale, and even though the services export boom continues, its nowhere near enough to cover resources:
Does this look toppy to anyone?
Now for free money – The Federal Reserve has broken free:
Bond yields are catching up, normally a sign that the Aussie dollar should be on its last legs: