Monday, 2 June 2008

Aussie Retail Sales Fall in April

Figures released from ther ABS add more evidence to the case that RBA's interest rate hikes are having an effect on the Australian consumer. Retail sales fell a seasonally adjusted -0.2% in April and are up 4.7% from a year earlier.
SFE futures are now factoring in 0% chance of a rate hike at the RBA's meeting tomorrow. I continue to believe the RBA has done enough however inflation fears have not abated and remain a chief concern.