Australia Westpac-MI leading index dropped from 1.69% to 0.88% in April. Westpac recently revised down growth forecast for 2022 from 5.5% to 4.5%, reflecting the sharp increase in cost of living, and an earlier and more rapid Reserve Bank of Australia (RBA) tightening policy. As for Reserve Bank of Australia meeting on June 7, Westpac expects the central bank to hike rate by a further 40bps to 0.75%.Powered by Commodity Insights
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