- Story Log
User | Time | Action Performed |
---|---|---|
-
Markets Today – The Good, the Bad and the Ugly: A stark contrast Tuesday between strong US retail sales and very weak China data
Stronger than expected US Retail Sales data added to rest of the world-driven weakness in US equities at the open and which haven’t recovered since, all the mainboard indices finishing with losses of 1% or more. This after Hong Kong’s Hang Seng index and China’s CSI 300 both finished in the red following yesterday’s slew of (very) weak China activity data. This was notwithstanding the somewhat earlier than expected monetary policy easing signal from the PBoC. The poor risk tone in the US and elsewhere has seen front-end US Treasury yields slightly lower on the day, but 10s are modestly higher, alongside which ... (full story)
- Comments
- Subscribe
-
- Older Stories
post: RBNZ: OCR To Need To Remain Restrictive For Foreseeable Future - Confident Restrictive Rates Will Return CPI To Target - Economy Evolving Broadly As Anticipated - Still Risk Inflation Doesn't Slow As Much As Expected - Measures Of Core Inflation Remain `Too High' post: RBNZ Forecasts Now Show Small Chance Of Another Rate Hike And Show A Recession Starting In Q3 2023RBNZ Minutes: Committee agreed that the OCR needs to stay at restrictive levels for the foreseeable future The current level of interest rates is constraining spending and hence inflation pressure, as anticipated and required. Committee agreed that the OCR needs to stay at restrictive levels for the foreseeable future. New Zealand economy is evolving broadly as anticipated. Headline inflation and inflation expectations have declined, but measures of core inflation remain too high. In the near term, there is a risk that activity and inflation measures do not slow as much as expected. Committee is confident that with interest rates remaining at a restrictive level for some time, consumer price inflation will return to within its target range of 1 to 3% per annum. Official cash rate at 5.54% in December 2023 (pvs 5.5%). RBNZ sees official cash rate at 5.57% in September 2024 (pvs 5.43%).Official Cash Rate remains at 5.5%: The Monetary Policy Committee today agreed to maintain the Official Cash Rate (OCR) at 5.50%. The Monetary Policy Committee today agreed to maintain the Official Cash Rate (OCR) at 5.5%. The current level of interest rates is constraining spending and hence inflation pressure, as anticipated and required. The Committee agreed that the OCR needs to stay at restrictive levels for the foreseeable future to ensure annual consumer price inflation returns to the 1 to 3% target range, while supporting maximum sustainable employment. The New Zealand economy is evolving broadly as anticipated. Activity continues to slow in parts of the economy that are more sensitive to interest rates. Labour shortages are easing as overall demand softens and immigration adds to labour resources. Headline inflation and inflation expectations have declined, but measures of core inflation remain too high. Globally, economic growth remains below trend and headline inflation has eased for most of our trading partners. Core inflation remains high in many countries. Weakening global economic growth is putting downward pressure on New Zealand export prices. The imbalance between demand and supply is moderating in the New Zealand economy. However, a prolonged period of subdued spending growth is still required to better match the supply capacity of the economy and reduce inflation pressure.
The official cash rate is expected to remain on hold for some time, but that doesnt mean that retail interest rates will remain completely static. The Reserve Bank will update ...
The yen may have slumped to within a whisker of levels that saw Japan intervene in the currency market last year, but options traders see little need to prepare for a jolt from ...
-
- Newer Stories
The six-month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months ...
The current level of interest rates is constraining spending and hence inflation pressure, as anticipated and required. The Committee agreed that the OCR needs to stay at restrictive levels for the foreseeable future to ensure annual consumer price inflation returns to the 1 to 3% target range, while supporting maximum sustainable employment. The New Zealand economy is evolving broadly as anticipated. Activity continues to slow in parts of the economy that are more sensitive to interest rates. Labour shortages are easing as overall demand softens and immigration adds to labour resources. Headline inflation and inflation expectations have declined, but measures of core inflation remain too high. Globally, economic growth remains below trend and headline inflation has eased for most of our trading partners. Core inflation remains high in many countries. Weakening global economic growth is putting downward press post: RBNZ Gov Orr: Raising OCR Track Is Not Forward Guidance - Raised OCR Track Is Not Strong Signal On Next Move post: RBNZ Gov Orr: Wary About Doing Too Much On Rates - Risks In Next Few Months Are Activity Could Be Stronger Than Projected - Not Much Discussion Of A Rate Cut, Steady Consensus Was Easily Formed
Watch the August 2023 Monetary Policy Statement media conference with: Governor Adrian Orr. Assistant Governor Karen Silk. Chief Economist Paul Conway.
- Story Stats
- Posted: Aug 15, 2023 10:20pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 3,243
- Linked events: