Good early morning, it’s Karen in Sydney. Here’s what you require to understand today…
Today’s must-reads:
Australia’s economy slowed in the very first 3 months of the year as the Reserve Bank’s aggressive rate walkings took a toll on household spending and building and construction. Gross domestic item advanced 0.2% from the previous duration, listed below financial experts’ price quotes for a 0.3% increase.
Meanwhile, RBA Governor Philip Lowe said Australia’s recent upside surprises in inflation are checking the Reserve Bank’s persistence, stating the objective of getting it back to target within a number of years has actually not altered and restating that some additional policy tightening up may be required. Morgan Stanley’s nation head Richard Wagner is tipping rates of interest will likely increase simply one more time in Australia prior to stopping briefly.
Pizza Hut Australia is being bought by franchise operator Flynn Restaurant Group, the United States business’s very first global acquisition. Flynn will include 260 dining establishments in the nation to its lineup in buying the Australia franchising license from Sydney personal financial investment company Allegro Funds.
