5 in 5 with ANZ ANZ

Markets start the week off the back of concerns on Friday that the US Fed might delay rate cuts after June’s stronger PMI - all eyes are on PCE data this Friday; And the Yen starts the week on the back foot.
In our bonus deep dive interview, ANZ Senior China Strategist Zhoapeng Xing analyses the significant changes on the way for China’s monetary policy regime.

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The Swiss National Bank surprises with a rate cut. The Bank of England holds as expected, and New Zealand exits recession…just.
In our bonus deep dive interview, ANZ FX Analyst Felix Ryan explains how the outlook for monetary policy in Japan has evolved during the quarter.

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UK CPI inflation hits 2%, but services inflation remains stubbornly high. All eyes are on the Bank of England tonight. Indonesia’s central bank is set to hold rates, while Bank of Japan board minutes show growing concern over the weak Yen.
In our bonus deep dive interview, ANZ Head of G3 Economics Brian Martin explains why ANZ has pared back its 2024 ECB rate cut expectations.

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The RBA turns more hawkish, saying it considered a rate hike but not a cut when it met yesterday; Weak US retail sales give hope for two Fed rate cuts this year; And strong Euro services inflation sees ANZ reduce its call on ECB rate cuts in 2024.
In our bonus deep dive interview, ANZ New Zealand Economist Henry Russell continues his analysis of sticky domestic inflation and how worried it might be making the Reserve Bank of New Zealand.

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Markets were mixed overnight, with equities, US Treasury yields and the oil price all rising. The RBA is expected to hold today, but what it says about inflation is being closely watched. And there are glimmers of hope for China’s domestic demand.
In our bonus deep dive interview, ANZ New Zealand Economist Henry Russell explains why it’s so important for central banks to get on top sticky non-tradable or domestic inflation.

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

Global stocks and bonds begin the week on the front foot after more soft US economic data reinforced hopes for a Fed rate cut in Q3. Partial inflation figures in New Zealand are softer than expected. The Bank of Japan surprises by not hiking.
In our bonus deep dive interview, ANZ Head of Asia Research Khoon Goh has surveyed the 11 economies in Asia outside of China and Japan and found seven grew GDP more than expected in the March quarter.

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