11 Feb 2015
Strong Australian data signalling for further RBA action? - Rabobank
FXStreet (Barcelona) - The Rabobank Team reviews today's Australian data release, adding that the strong housing loans and investment lending signals towards further action by the RBA.
Key Quotes
"This morning we’ve seen Aussie consumer confidence bounce 8.0% MoM, so the RBA will be equally pleased, no doubt."
"However, as noted yesterday, on the macro-prudential front all we have so far are Q1 visits to local banks by the Australian Prudential Regulation Authority (APRA): yet could APRA surprise us?"
"Home loans data for December rose 2.7% MoM and investment lending were up 6.0%, which certainly suggests that somebody needs to get a move on if action is to be taken."
Key Quotes
"This morning we’ve seen Aussie consumer confidence bounce 8.0% MoM, so the RBA will be equally pleased, no doubt."
"However, as noted yesterday, on the macro-prudential front all we have so far are Q1 visits to local banks by the Australian Prudential Regulation Authority (APRA): yet could APRA surprise us?"
"Home loans data for December rose 2.7% MoM and investment lending were up 6.0%, which certainly suggests that somebody needs to get a move on if action is to be taken."