Australia's Westpac Bank announced that after nearly six months of no significant fluctuations, Australia's Westpac Leading Indicator for October rose by 0.2% monthly. The six-month annualized growth rate, reflecting the trend of economic activity in the next three to nine months, has changed from the previous negative 0.2 to positive, rising to 0.26. The data reflects signs of further improvement in Australia's future economic momentum.

Westpac economist Ryan Wells expects that the Reserve Bank of Australia will keep the benchmark interest rate unchanged at the December meeting. As for next year, before lifting monetary government restrictions to a less restrictive level, considerations need to be made regarding how close inflation needs to be to the target.