ONLY CHARTS #342
RBA cash rate expectations, Cross-country policy rates, Aus Labour Account, World shipping costs
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1. Markets are now pricing around an 80% chance of a 25bp cut by the RBA Board to 3.60% in July and a further ~50bps of easing by December.
2. The speed and cumulative size of central bank policy rate easing to-date varies significantly. Norges Bank has remained on the sidelines, for now.
3. According to the Labour Account, the number of filled jobs in Australia fell 0.1% q/q in Q1. The number of main jobs rose +0.2% q/q but there was a 4.2% q/q fall in secondary jobs.
Employment rose +0.4% q/q and hours worked grew +0.3% q/q in Q1.
Over the year, growth was similar for the labour force survey of employment and the number of filled jobs.
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