Australia & New Zealand Economics

Australia & New Zealand Economic Outlook

28 January, 2018

No rush to raise rates

2018 will be the first year this century that the Australian economy won’t benefit from either a mining or housing boom. In those circumstances, we doubt that GDP growth will rise above 2.5%. And despite a decent fiscal boost in New Zealand, a still-weak housing market and lower net migration will mean that GDP growth there may stay close to 3.0%. With inflation set to remain low in both economies, we suspect that both the RBA and RBNZ will surprise the financial markets by not raising interes

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