NAB expects Australia to report weak Q2 GDP on Wednesday, forecasting QoQ growth
of about 0.2% and YoY growth of 1.8%. NAB says weak growth reduces the chance of
further RBA hikes, but warns persistently low productivity could maintain
inflationary pressure even with slow growth; the RBA continues to prioritise
inflation control. Calls for productivity-boosting reforms have largely stalled
due to political cost, and RBA Governor Bullock said the federal government in
Canberra must lead on reform.
