Markets are flat ahead of central bankers’ speeches at Jackson Hole. Thailand’s growth slows as tariff and political dramas hit. India gets a long-overdue credit rating upgrade. And there’s another sign of life from New Zealand’s economy.
In part two of our Deep Dive interview, ANZ Senior China Strategist Zhaopeng Xing details how China is ending price-cutting wars to cure deflation, including by banning cheap power banks from planes.
5 things to know in 5 minutes:
Global markets were largely flat overnight and waiting for news from Fed Chair Jerome Powell later this week from the Jackson Hole symposium of central bankers, says ANZ Head of G3 Economics Brian Martin.
Thailand’s GDP growth eased to an annual rate of 2.8% in the June quarter and momentum is waning, says ANZ Economist Krystal Tan.
Thailand’s economy won’t be able to rely on much help from policymakers, Krystal says.
India’s sovereign credit rating has finally been upgraded to BBB from BBB- after a wait of 18 years. ANZ Economist Dhiraj Nim says many think it was long overdue.
New Zealand’s manufacturing purchasing manager’s index rose in July into expansionary territory, while its services index also improved, although that remains in contraction mode, reports ANZ Economist Matt Galt.
Cheers,
Bernard.
PS: Catch you tomorrow with a preview of the Reserve Bank of New Zealand’s expected rate cut.
