So we suspect that it won't take much to give the RBA that extra shove toward tightening.
More Quotes from Michael Blythe:
Clearly, exports are the disappointment. Signs that at long last the exports story was coming through, has pretty much disappeared with this release.Michael Blythe
Some of the risks coming through in the labor market in Australia are still very tight and, ultimately, you would expect that to push up wages and then flow through to inflation.
Michael Blythe
Consumer caution was shaping up as the major domestic risk to the Australian economic outlook in 2006. Good labor market outcomes were always going to be the best antidote to this caution.
Michael Blythe
Signs of slowing growth and wages moving sideways rather than picking up, and of course the currency showing some signs of life, suggest that the Reserve Bank has probably administered enough monetary medicine for the time being.
Michael Blythe
Consumer caution persists and a weak housing sector remains a drag on overall services sector activity.
Michael Blythe
There were new building regulations there that took effect from July 1 which are going to bump up the cost of new houses. It looks like there was a last minute rush to beat that which pumped up previous months and created this pothole for us to fall into in July,
Michael Blythe
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