This past week has seen yet more key indicators, NABBusiness Conditions – a coincident indicator – and RBAcredit turn higher, more evidence the economy has shownmore resilience into year end. We can add those to a growinglist: confidence, housing activity, sales and prices, retailingresilience, and of course a higher CPI. On the back of thisevidence, the RBA Board is set to leave rates steady,upgrade its inflation forecasts and fine tune its wording toreflect even less likelihood of another easing.
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NAB