Analysts at Australia and New Zealand Banking Group (ANZ) believe that the latest strong Australian employment data has weakened the case for a Reserve Bank of Australia (RBA) next month. Key Quotes: “The strength in employment over November/December and the associated decline in the unemployment rate to 5.1% at the end of the year from 5.3% in October will reinforce the RBA’s view that “the Australian economy appear[s] to have reached a gentle turning point.” This makes it difficult to see the RBA easing in February, notwithstanding the short-term hit from the bushfires and the likely downward pressure on near-term ... (full story)