Westpac Economics Australia & NZ Weekly

The week ahead will see only a limited number of data releases. However, that limited set includes Australia's Q2 consumer price index and the Westpac-MI leading index, which indicates the likely momentum in the economy three to six months ahead. On the monetary policy front, the July RBA meeting minutes will be released and Governor Stevens will be speaking in Sydney on Wednesday. Offshore, the key event will be the RBNZ July policy meeting, where we expect to see a further 25bp cut (although a 50bp move is possible). The northern hemisphere will be quiet, though existing and new home sales data will provide an update on the strength of the housing market. (VIEW LINK)