RBA Cash Rate August 2023 & Australian Housing Market Update
The Property Couch
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The Importance of Consumer Sentiment in the Labor Market
The June data read was also 3.5% beating expectations of a reading of 3.6%. Employment rose by 32,600 jobs in June near its 50 year lows. It is my view that with saving rates now back below long term averages and with pretty much all forms of spending slowing I'm convinced that unemployment will increase from this point forward until the cash rate starts coming back down to more normalised levels in 2024. The House Price Rising Index which sentiment towards the housing market continued to improve. And so we should start to see that improving development of that sort of slowing inflation globally start moving through into positive developments on the inflation front here in Australia.
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