Rise in RBNZ Rates
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NEWS
RBNZ Rates to 3%, Santos profit soars while CSL hit by weak plasma collections as ASX rises
Introduction of RBNZ Rates Following choppy trading in the morning, Australian shares have slightly increased as new data reveal that wage growth is now falling further RBNZ Rates behind and the rising cost of living. For the Reserve Bank of Australia (RBA), wage growth is a critical indicator when deciding whether to raise rates. Some economists believe that today’s data will strengthen the case for a rate increase of less than 50 basis points (either 40 basis points or 25 basis points). Key Ideas The most recent wage price index figures were below what was anticipated. Despite a jump in first-half profit, Santos shares declined, and CSL’s stock took a dive after revising its profit forecast. As the S&P 500 and Dow closed higher yesterday, global stocks remained stable. The…
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