being geographically far from Ukraine’s conflict while benefiting from higher global commodity prices.
Equally, according to the Reserve Bank of Australia's governor Phillip Lowe, higher commodity prices means “that terms of trade will rise over the months ahead, which will provide a boost to our national income. This boost is likely to be evident mainly in the form of higher profits for companies in the resources sector and higher tax revenue”.
''That said, we expect some of that boost to fizzle, though to a still firm job growth pace of +350k. Indeed, job gains should lead to a new drop in the unemployment rate to a post-COVID low of 3.7%. We also expect wage growth to slow to a still firm 0.3% m/m pace.
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Source: Financial Digest (financialdigest.net)
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