New RBA Governor Michele Bullock is talking hawkishly about demand-driven inflation, which is set to keep Australian interest rates high, and possibly higher, for longer.
In part two of our bonus deep-dive interview, ANZ’s Head of G3 Economics Brian Martin details why massive US public investment spending is holding global interest rates up for longer.
5 things to know
Global markets were quiet overnight for Thanksgiving. Investors focused on a hawkish speech from RBA Governor Michele Bullock, which ANZ’s Head of Australian Economics Adam Boyton says was all about demand-driven inflation.
Adam says a cut from the RBA is a long way off, with the chances of a hike more likely in the next six months.
Singapore’s 4.7% inflation rate is unlikely to budge the Monetary Policy of Singapore from its current policy track, says ANZ’s Chief Economist for Southeast Asia and South Asia Sanjay Mathur.
Australian retailers will have to work extra hard and long to get a sales boost on Black Friday and Cyber Monday, says ANZ Economist Maddy Dunk.
New Zealand retail sales volumes are expected to slump 1% in per-capita terms in Q3 data due later today, says ANZ Senior Economist Miles Workman.
Cheers
Bernard
PS: Have a great weekend Look out on Monday for a preview of the week ahead and detail from this afternoon’s Japan CPI inflation data.
