Jerome Powell clears the way for the Fed to cut next month. The Fed drops its flexible target for inflation. Core inflation in Japan remains elevated, which means a rate hike is likely from the Bank of Japan.
In our Deep Dive interview, ANZ Senior Commodities Strategist Daniel Hynes analyses whether Indonesia is about to transform aluminium supply, like it did for nickel.
5 things to know in 5 minutes:
US Federal Reserve Chair Jerome Powell gave his final speech at Jackson Hole over the weekend, which was interpreted as clearing the way for a rate cut next month, says ANZ Head of G3 economics Brian Martin.
The Fed also changed its inflation targeting approach, says Brian.
Japan’s core inflation rate was steady in July at 3.4%, but that was above the Bank of Japan’s 2% target, says ANZ FX strategist Felix Ryan.
Felix says a rate hike is likely.
Core inflation in Malaysia was also unchanged in July, reports ANZ Economist Arindam Chakraborty.
Cheers,
Bernard.
PS: Catch you tomorrow with part two of our deep-dive interview with Daniel.
