Gold continues its slide, while US stocks also drop, led by large tech stocks. Expectations the Bank of England will cut rates are rising after weaker inflation. And Bank Indonesia unexpectedly holds rates.
In our Deep-Dive interview, ANZ Economist Krystal Tan analyses how Indonesia’s authorities are looking to support growth.
5 things to know in 5 minutes:
Gold continued its slide overnight - it was down another 1% after yesterday’s 6% slide. Meanwhile, in the UK inflation surprised to the downside in September - it was up 3.8% over the year after a flat month. ANZ Economist in London Henry Russell says the closely watched services inflation was lower than expected.
Bank Indonesia held its policy rate at 4.75% yesterday against expectations for a cut. ANZ Economist Krystal Tan says the central bank is waiting to see if new liquidity incentives lead banks to lower lending rates after three cuts since July.
Malaysia’s inflation ticked up to 1.5% annually in September from 1.3% in August. ANZ Economist Arindam Chakraborty says the increase was mainly driven by modest increases across food, utilities and transport prices.
Japan’s exports rose 4.2% in September from a year ago - the first increase in nearly half a year. Imports were up 3.3%, with the adjusted trade balance remaining negative amid global tariff wars, says ANZ FX Analyst Felix Ryan.
New Zealand’s sheep and beef farmers are receiving a much-needed spring bump to their prices, across the board, says ANZ New Zealand Agri Economist Matt Dilly.
Cheers,
Bernard.
PS: Catch you tomorrow with a look ahead to US inflation data out on Friday.
