The US Fed chair warns of a weaker jobs market amid a shutdown data blindspot. The RBA Board leaves its options open. Australian consumer confidence drops to a 12-month low. And New Zealand’s housing market goes sideways.
In our Deep-Dive interview, ANZ Economist Arindam Chakraborty reviews Malaysia’s 2026 Government budget and fiscal targets.
5 things to know in 5 minutes:
US Fed Chair Jerome Powell has warned of a worsening jobs market amid the data void created by the Government shutdown. The remarks come as traders are trying to interpret how the Fed is viewing the economy through the shutdown, says ANZ Head of FX Research Mahjabeen Zaman.
In Australia yesterday the main focus was the Reserve Bank of Australia Board September meeting minutes - when it left the cash rate unchanged. ANZ Head of Australian Economics Adam Boyton says the Board left the door open to cut or hold rates.
The decision to hold the cash rate on 30 September, and commentary that rates might not be cut again until next year, may have been a factor in the ANZ-Roy Morgan Australia Consumer Confidence index falling 2 points last week to 83. That’s a 12-month low, says ANZ Economist Sophia Angala.
Australian business confidence rose 3 points to +7 in September - just above the long-run average, according to NAB’s survey. ANZ Senior Economist Adelaide Timbrell says the survey’s pricing indicators were stable, suggesting not much in terms of disinflationary pressure in the near term.
In New Zealand, house prices went sideways in September, according to the Real Estate Institute’s index. ANZ Senior Economist Matt Galt says prices are about where they were a year ago.
Cheers,
Bernard.
PS: Catch you tomorrow with China’s latest consumer and producer price data.
