I am unsure about a rate rise Argyle, as there are other indicators.
Unemployment is rising, and retail sales have tanked, as consumers are reluctant to spend.
In spite of what they say, it is what the government is doing is a worry.
Still super high immigration, and as income (tax) rises, government spending goes even higher.
Something is going to crack in the next couple of months. Even with more people and inflation - retail sales are down more than 3% in dollar terms. NewsCorp Herald Sun today 29/5/24
