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The Reserve Bank of Australia stands ready to act if lockdowns threaten the economy. Westpac now sees a 2.6% contraction in the current quarter, with a rebound by Christmas as vaccination rates top 70%.
Westpac forecasts 2021 growth of 2.4%, down from 3.2%. COVID disaster payments have reached 1.2 million people.
Weaker Australian growth reduces domestic demand for feed-linked meat and dairy, a modest bearish signal for regional feed use. The effect on global prices is small.
reuters.comWayne ColeAug 17, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
