Markets are turning to Jackson Hole later this week for signs from the world’s central bankers about the speed and size of expected rate cuts. Central bank decisions are due in Thailand, Indonesia and South Korea. And there’s good news from New Zealand’s economy
In our bonus deep dive interview, ANZ Senior Commodities Strategist Daniel Hynes talks about the weather, and in particular what a change from El Nino to La Nina means for markets.
5 things to know:
Markets will focus on the annual Jackson Hole Symposium of the world’s major central bankers starting on Friday. ANZ Group Chief Economist Richard Yetsenga sees no need for any emergency inter-meeting cut by the Fed.
This week, central banks in China (Tuesday), Thailand and Indonesia (Wednesday) and South Korea (Thursday) make rates decisions. Richard sees the potential for dovish surprises.
In New Zealand, ANZ’s Truckometer and the BusinessNZ-BNZ PMI survey bounced in July after big falls in June, says ANZ New Zealand Chief Economist Sharon Zollner.
Sharon says the RBNZ’s rate cut last week could spark a faster rebound in such high frequency economic leading indicators than some expect.
ANZ Asia Economist Krystal Tan sees an improvement in Thailand’s annual growth rate to 2.1% in the June quarter from 1.5% in the March quarter in GDP data out later today.
Cheers
Bernard
PS: Catch you tomorrow with the results from that Thai GDP data.
