Trump delays tariffs on auto imports for a month and the ECB cuts rates. Australia’s exports to the US jump despite tariff uncertainty. Forecasts for New Zealand’s Q4 GDP may fall, and Malaysia holds rates.
In our bonus deep dive interview, ANZ Head of Australian Economics Adam Boyton explains why the RBA’s February meeting minutes this week point to only one more rate cut this year.
5 things to know in 5 minutes:
Global markets are volatile again after Donald Trump delayed tariffs on auto imports for a month. Meanwhile, global bond yields are up sharply after a big shift by Germany to borrow more to pay for defence. Also, the ECB cut rates as expected, with more to come, says ANZ Economist Bansi Madhavani.
Australia doubled exports to the United States in January, helping grow total exports 1.3% for the month, says ANZ Economist Sophia Angala.
New Zealand’s building sector output fell 4.4% in Q4, which was lower than expected. ANZ Economist Henry Russell says there’s now downside risk to forecasts for Q4 GDP.
Malaysia’s central bank held its key policy rate at 3% yesterday, as expected. ANZ Economist Arindam Chakraborty expects the rate to be held for the rest of 2025.
South Korea’s annual inflation rate dipped slightly to 2% in February from 2.2% in January, which ANZ Economist Krystal Tan says will help the Bank of Korea cut again.
Cheers,
Bernard
PS: Catch you next week with analysis of US jobs data tonight and China price gauges over the weekend.
