Market Outlook in conversation

November 2022 - RBA outlook, Consumer Sentiment, Australia inflation, FOMC

Episode Summary

Despite a very strong and broad-based Q3 CPI print, the RBA limited their November rate increase to 25bps. We expect inflation to remain a pressing concern for Australia, requiring the RBA to continue hiking to 3.85% by May 2023 and then remain on hold until 2024. Of particular note this month is the profound weakness in Westpac-MI consumer sentiment, with the November outcome below the GFC low.

Episode Notes

November’s key themes include:

• The RBA outlook: implications for the Australian economy, sentiment and markets (Chief Economist Bill Evans)
• Australian consumers under pressure from interest rates and inflation 7:50min (Senior Economist Matthew Hassan)
• Clouds gather on the horizon for Australian businesses 13:45min (Senior Economist Andrew Hanlan)
• Australia’s inflation outlook: a deep dive 18:20min (Senior Economist Justin Smirk)
• FOMC Chair Powell doubles down 25:05 min (Senior Economist Elliot Clarke)