While the recent falls in oil prices may boost consumer spending, they render investment in new LNG projects less attractive and may therefore restrain mining investment. Meanwhile, the slump in building approvals will restrain dwellings investment. But as the outlook for the labour market remains healthy, we doubt the RBA will respond to the housing downturn by cutting interest rates.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.