RBA Speeches and Consumer Sentiment Data in Focus Amid Inflation Worries

The Reserve Bank of Australia's (RBA) upcoming speeches and consumer sentiment data will be closely watched by economists. RBA assistant governor Sarah Hunter is scheduled to speak at The Australian Financial Review's Property Summit in Sydney on Tuesday, while deputy governor Andrew Hauser appears on ABC's 7.30 later that evening.

The Westpac consumer sentiment report is also due out this week and will look at whether spending has held up or increased. NAB head of Australian economics Gareth Spence said he didn't believe the central bank's leadership would give away too much more than what they've already indicated regarding inflation pressures.

'There's obviously inflation pressures, then you know front of mind for the RBA is the inflation challenge, but if that's because of volumes or actual sales, it also tells us maybe the economy isn't slowing as much as they thought,' Spence said. The US-led war on Iran has caused global oil prices to skyrocket after the effective closure of one of the world's most important oil corridors.