Show Notes
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.
In our deep dive interview, ANZ Economist Bansi Madhavani previews the UK Budget due tomorrow night and how British bond, or gilt, markets might react.
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More from 5 in 5 with ANZ
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.
China’s GDP growth beats forecasts, but a record high trade surplus remains an issue globally for trading partners. ANZ Research raises its US dollar forecast and still sees a Fed hike next week. And New Zealand’s services sector expands — just.