Australia: key events and numbers for the week ahead - Deutsche

Analysts from Deutsche Bank, take a look at next week’s economic numbers and events from Australia. 

Key Quotes: 

“Apart from leaving rates unchanged, there was also no change in the RBA's neutral policy stance in the accompanying post-meeting statement. Retail trade disappointed the market, with the value of turnover falling 0.1% in December. We were looking for a decline in the month as the traditional post Christmas sales in many cases started pre Christmas, while the general extent of discounting also appeared a little deeper than usual. The ANZ's job ads series jumped 4.0% in January after slumping 2.2% in December - we suspect there is more seasonal noise than signal in these results. Overall, no change to our Q4 GDP growth forecast (0.7% qoq / 1.9% yoy) or our RBA cash rate call (25bp of easing still likely this year) off the back of this week’s data and events.”

“The January labour force figures are due Thursday. Our labour market tracker continues to point to modestly positive employment growth - as such, we look for a 10k gain in employment and for the unemployment rate to remain unchanged at 5.8%. Ahead of the labour force figures, the NAB business survey for January is due Tuesday, and the Westpac Melbourne Institute consumer sentiment index will be released on Wednesday. 

“Inflation expectations for February will be released Thursday. There are two RBA speeches in the week ahead. On Wednesday, Head of Economic Analysis Alex Heath will address an economics conference in Sydney, and on Thursday, Assistant Governor (Economic) Luci Elliswill participate on a panel at a housing researchers conference in Sydney.”