Christopher Joye’s video take on today's weak GDP figures
Christopher JoyeDecember 8, 2020
The low Q4 GDP number of 0.4% combined with the downward revision to Q3 will have been a negative surprise for the RBA.
We really need to see unemployment tomorrow to work out whether this is a true game changer for interest rates.
But the probability of a cut this year has now risen, to be sure.
The RBA will, however, need more confirmatory evidence...