Show Notes
US markets firm ahead of the Fed’s rate decision tomorrow - expected by the market to be a hold. And in Australia today, attention is on Q3 inflation data for clues on whether the RBA will hike next week.
In our deep dive interview, ANZ Economist Maddy Dunk outlines ANZ Research’s latest Australian house price forecast revisions.
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More from 5 in 5 with ANZ
The Reserve Bank of Australia is signalling its discomfort with high inflation, which has increased market expectations for a rate hike next week. South Korea is expected to report strong GDP growth.
Oil rises on fears of renewed strikes on Iran, before or after next week’s US mid-term elections. Markets expect the Fed to hold this week. And ANZ Research tweaks its call for New Zealand’s cash rate, bringing forward a hike to December from February.
US stocks fall overnight on AI valuation fears, oil jumps with talk of new strikes on Iran, and bond yields fall on safe haven buying. The Philippines hikes rates more than expected. And New Zealand inflation falls, but not enough to stop a rate hike next week.
Global stocks rise on talk of a SpaceX/Tesla merger. Bank Indonesia holds rates. Bank of Korea is set to do the same, but a hike is expected in the Philippines. And New Zealand inflation data due today is set to stay above target.
Australian inflation expectations tick up as confidence ticks down. Bank Indonesia should hold today but faces pressure to hike. And the People’s Bank of China holds rates as it looks to support bank margins.