3-1 Economic Calendar

RBA leaves rates unchanged at 4.75%
- Mildly restrictive policy is appropriate.
- Inflation in the year ahead to be consistent with target.
- High AUD is damping inflation.
- Sees a fall back in farm prices later in the year.
- Sees further growth in employment.
- Employment is likely growing at a slower pace.
- Sees wages growing at rates seen prior to downturn.
- Asset values are little changed over recent months.
- Overall credit growth remains quite subdued.
- Runup in household leverage abated.
New Zealand ANZ Commodity Prices m/m
0.2%; worse than the 0.4% forecast and 0.1% prior reading.
Chinese Feb manufacturing PMI 52.2; as expected.
Aussie current account -7.3B; worse than the -6.9B forecast.
Unemployment as expected: 4.9%, household spending slightly better at -1.0%
Japanese Unemployment Rate and Household Spending in 10 minutes…



