China’s consumers travelled and spent more during the just-completed Lunar New Year holidays than in 2019. The RBA will watch this week’s Australian wages figures like a hawk. The RBNZ says the last mile of inflation reduction will be hard.
In our bonus deep dive interview, ANZ’s Head of G3 Economics Brian Martin explains why there’s a growth and interest rate divide opening up between the United States and the rest of the world.
5 things to know:
Chinese travellers spent 47% more this Lunar New Year holidays than last year, and 8% more than in 2019, giving some reassurance consumers there aren’t too depressed.
The RBA will watch Australian wages data on Wednesday for signs of stubborn services inflation, says ANZ Group Chief Economist Richard Yetsenga.
RBNZ Governor Adrian Orr says in his first speech of 2024 the last mile of inflation reduction will be hard.
ANZ NZ Chief Economist Sharon Zollner says Orr’s speech was notable for its focus on stubborn underlying inflation.
Malaysia’s Q4 GDP was weaker than expected, says ANZ Economist Debalika Sarkar.
Cheers
Bernard
PS: Catch you tomorrow with a closer look at relatively high spare capacity in the global oil market with ANZ’s Senior Commodities Strategist Daniel Hynes.
