Rates Pause

RBA Monetary Policy
As you know, the RBA decided to leave rates on hold yesterday. This does not however mean the rate cycle has come to an end as there is the distinct possibility that inflation may pressure them to lift again later in the year. I think we have a few months breather though. Their statement can be found by clicking here.

Retail Sales
Aussie consumers are watching their pennies. While retail spending rose by 0.6 per cent in April, once food is excluded sales only edged 0.1 per cent higher. Spending at large retailers is growing at the slowest annual pace in almost nine years, up just 1.2 per cent. This would be why DJ are starting a sale today that they reckon are the best in 10 years!!

Housing
Dwelling approvals slumped by 14.8 per cent in April after climbing by 16.8 per cent in March. Overall the number of dwelling approvals is still above decade averages but there is more uncertainty about the outlook for construction.