Economic calendar in Asia Monday, 30 October 2023 – Australian retail sales data

<p>It's a very light data agenda for the session ahead, Australian retail sales the only data of note. </p><p>The retail trade data will update how consumer spending is holding up despite rising inflation, and rising mortgage rates. A decent rise is expected on the month.</p><p>Last week's CPI data was a bit of a surprise, headline and underlying inflation measures came in above estimates and above the most recent RBA forecasts. Four of the big four Australian banks are forecasting a rate hike from the Reserve Bank of Australia at their next meeting, which is on November 7. </p><ul><li><a href="https://www.forexlive.com/centralbank/westpac-now-forecasting-a-november-reserve-bank-of-australia-rate-hike-20231026/" target="_self">Westpac forecasting a November Reserve Bank of Australia rate hike</a></li></ul><ul><li><a href="https://www.forexlive.com/centralbank/commonwealth-bank-of-australia-forecast-a-25bp-rba-rate-hike-on-november-7-20231025/" target="_self">Commonwealth Bank of Australia forecast a 25bp RBA rate hike on November 7</a></li><li><a href="https://www.forexlive.com/centralbank/anz-forecasts-a-25bp-rba-interest-rate-hike-on-november-7-previous-forecast-was-december-20231025/" target="_self">ANZ forecasts a 25bp RBA interest rate hike on November 7 (previous forecast was December)</a></li><li>The other of the 'big four', National Australia Bank, was already forecasting a 25bp rate hike on November 7 even before last week's inflation data.</li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.