'The next move will be up': Weak GDP print won't change Australia's interest rate reality
The excitement in the markets over softer-than-expected GDP figures was short-lived. Because a closer look at the data shows it’s not clear cut.
For a moment on Wednesday morning, it seems as though fears the next move in interest rates could be a hike were misplaced.
The latest national accounts showed the Australian economy grew by just 0.4% in the September quarter, below the 0.7% GDP print markets had anticipated.
And just hours before those figures were released, Reserve Bank governor Michele Bullock told Senate Estimates she still thinks many of the factors behind a recent inflation spike are temporary.
But even economists who were soothed by both of these indicators are still warning that were not out of the woods yet.
