Australia’s relentless recovery struck an air pocket as household sentiment retreated and employment fell for the first time in seven months, which combined with a slow vaccine roll out increases pressure on the central bank to maintain a high tempo of stimulus. Consumer confidence slid 4.8% in May, though from a record high, and employers cut 30,600 roles in April. Yet other indicators remain positive, a survey showed the financial well-being of Australians climbed to the highest ever and last week’s budget contained new rounds of spending. The underlying question is how long it will take the Reserve Bank of ... (full story)