Australia Westpac client confidence dropped -5.2% to 107.2 in June. The index has now fallen by -9.7% over the past two months. Westpac mentioned the most recent fall is “nearly actually resulting from issues across the two-week lockdown in Melbourne.” There was a fall of -7.5% in Victoria, -4% in Queensland, -9% in Western Australia, and -10.9% in South Australia. New South Wales dropped solely -1.1%.
Westpac expects RBA to resolve towards extending the Yield Curve Concentrating on from April 2024 bond to November 2024 bond. Additionally, RBA may announce a extra versatile method to QE, with a weekly goal of AUD 5B.