This is a choppy data series, lumpy approvals swing it monthly. But, yeah … wow for this one!
For Jan 2020:
-15.3 % m/m
-11.3 % y/y
The focus is on the RBA. Painted into a corner they are:
- G7 looking at providing stimulus
- Fed, BOJ, ECB (and others) have said they'll take action if needed
- market pricing for the RBA is 100% for a cut
- ASX nervously eyeing the meeting amidst rips everywhere else
Earlier:
