5 in 5 with ANZ ANZ

Global PMI surveys suggest the US economy is rollicking along in a way that might force the Fed to keep rates high for even longer. New Zealand retail sales bounce and there’s hope tax cuts in next week’s budget might give them more of a boost.
In our bonus deep dive interview, ANZ Senior International Economist Tom Kenny reviews how the Bank of Japan’s commentary has shifted in recent months, and why that points to more rate hikes.

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Stronger than expected inflation in the UK pushes out rate cut bets, as PM Sunak calls a snap election; New Zealand’s Reserve Bank turns hawkish and pushes out rate cuts; Indonesia holds rates; Singapore’s core inflation is expected to rise.
In our bonus deep dive interview, ANZ Senior Commodity Strategist Daniel Hynes looks ahead to a key meeting of global oil producers, and what it could mean for supply and the oil price.

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Global markets are flat ahead of Fed minutes. The RBA board discussed a rate hike more than was thought. Aussie renters feel more confident after the Budget. There are rate decisions today in New Zealand and Indonesia.
In our bonus deep dive interview, ANZ Senior Commodity Strategist Daniel Hynes looks at why global oil demand has been dragged down recently. One reason is Americans are driving less.

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US Fed officials see disinflation progress and indicate rate rises are unlikely. US dollar firms further vs the Yen. China property prices would need to fall 35% to trigger buyer interest because rental yields are still too low, says ANZ China Strategist Zhaopeng Xing.
In our bonus deep dive interview, ANZ New Zealand Senior Economist Miles Workman looks at why New Zealand’s soggy economic outlook is unlikely to get much support from the RBNZ, which is expected to hold rates at 5.5% tomorrow.

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China has announced a major rescue package to buy unsold apartments and remove restrictions for homebuyers. New Zealand’s economy is soggy, but shouldn’t expect help from a rate cut any time soon.
In our bonus deep dive interview, ANZ Chief Economist for Southeast Asia and India Sanjay Mathur analyses what labour costs across Southeast Asian economies say about their regional competitiveness and productivity.

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The Dow rises through 40,000. Fed speakers see monetary policy working. US jobless claims and factory output data reinforce hopes for a rate cut or cuts later this year. Australia’s labour market may be softening faster than the RBA is expecting.
In our bonus deep dive interview, following on from our coverage of China’s politburo declaring they want to reduce unsold property inventories, ANZ Chief Economist for Greater China Raymond Yeung say they need to be careful from a financial stability perspective that prices don’t drop too much.

Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/