The Fed is divided about more rate cuts going into a new year with a new Chair. India’s underlying inflation decelerates. And New Zealand’s manufacturing sector expands slightly faster.
In our Deep-Dive interview, ANZ Greater China Economist Vicky Xiao Zhou analyses the results of last week’s Central Economic Work Conference (CEWC) statement after a key Politburo meeting.
5 things to know in 5 minutes:
Fed Presidents spoke on Friday after the FOMC decision to cut last week with divided views on how much to cut next year, if at all, says ANZ’s Head of G3 Economics Brian Martin.
India’s Consumer Price Index rose 0.7% in November from a year ago, which was up from 0.3% in October, but in line with market expectations. ANZ Economist Dhiraj Nim says price pressures remain broadly contained.
He says the Reserve Bank of India has room to keep bank liquidity loose.
The New Zealand Government is set to publish its Half Yearly Economic and Fiscal Update tomorrow, including the potential for a slower return to surplus or better economic forecasts, says ANZ Senior Economist Miles Workman.
New Zealand’s manufacturing sector expanded slightly in November, and at a slightly faster pace, according to the BusinessNZ-BNZ survey. However, ANZ Economist Matt Galt says a fall in new orders was disappointing.
Cheers,
Bernard.
Catch you tomorrow with a preview of the Australian Federal Government’s Mid-Year Economic and Fiscal Outlook (MYEFO) statement on Wednesday.
