OCR
Equity markets consolidated after a week where major indices in Japan, Europe and North America reached record highs. Data dependency and inflation sustainability the key policy drivers before lower rates
26th Feb 24, 7:20am
Equity markets consolidated after a week where major indices in Japan, Europe and North America reached record highs. Data dependency and inflation sustainability the key policy drivers before lower rates
The Reserve Bank could easily hike the Official Cash Rate again in the coming week. But should it?
25th Feb 24, 6:00am
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The Reserve Bank could easily hike the Official Cash Rate again in the coming week. But should it?
Record breaking equity markets across Japan, euro area and US; Nvidia's blockbuster earnings report propels the stock higher and drives S&P500 up 2%. Market continues to pare back expectations of Fed easing
23rd Feb 24, 7:41am
2
Record breaking equity markets across Japan, euro area and US; Nvidia's blockbuster earnings report propels the stock higher and drives S&P500 up 2%. Market continues to pare back expectations of Fed easing
Householders' views of future inflation have risen sharply in a development that goes very much against what the Reserve Bank is looking for as it seeks to dampen down inflation
22nd Feb 24, 3:34pm
61
Householders' views of future inflation have risen sharply in a development that goes very much against what the Reserve Bank is looking for as it seeks to dampen down inflation
There were limited catalysts for global asset markets overnight in the absence of first-tier economic data or fresh guidance from policy makers. But eyes are on both the Fed minutes, and the keenly awaited Nvidia corporate results
22nd Feb 24, 8:31am
There were limited catalysts for global asset markets overnight in the absence of first-tier economic data or fresh guidance from policy makers. But eyes are on both the Fed minutes, and the keenly awaited Nvidia corporate results
US equities lower, led by tech, US Treasury yields lower and USD broadly weaker. Market unperturbed by surprise cut to China's 5-year prime loan rate, scepticism that it will achieve much. NZD outperforms
21st Feb 24, 7:49am
US equities lower, led by tech, US Treasury yields lower and USD broadly weaker. Market unperturbed by surprise cut to China's 5-year prime loan rate, scepticism that it will achieve much. NZD outperforms
China reopens after LNY holiday with positive economic snippets on travel and spending. European gas and carbon markets continue show much weaker pricing
20th Feb 24, 7:43am
China reopens after LNY holiday with positive economic snippets on travel and spending. European gas and carbon markets continue show much weaker pricing
US producer price inflation was higher than expected and contributed to a weak tone across bond and equity markets. US treasury yields reached the highest level in 2024
19th Feb 24, 7:53am
US producer price inflation was higher than expected and contributed to a weak tone across bond and equity markets. US treasury yields reached the highest level in 2024
Reserve Bank policymakers will be weighing up various measures of inflation as they begin committee deliberations
18th Feb 24, 6:00am
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Reserve Bank policymakers will be weighing up various measures of inflation as they begin committee deliberations
Governor Adrian Orr says the Reserve Bank is focused on core inflation and is not willing to tolerate even temporary inflation pressure
16th Feb 24, 9:32am
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Governor Adrian Orr says the Reserve Bank is focused on core inflation and is not willing to tolerate even temporary inflation pressure
Gloomy data - UK and Japan in recession in 2H23, Australian unemployment rate at a 2-year high; and a big downside miss in US retail sales for January. USD broadly weaker
16th Feb 24, 7:47am
1
Gloomy data - UK and Japan in recession in 2H23, Australian unemployment rate at a 2-year high; and a big downside miss in US retail sales for January. USD broadly weaker
Global equity and bond markets rebounded from the losses triggered by the surprisingly strong US inflation data. NZD/USD edged upwards as the US dollar retraced from 2024 highs aligned with the fall in treasury yields
15th Feb 24, 7:45am
Global equity and bond markets rebounded from the losses triggered by the surprisingly strong US inflation data. NZD/USD edged upwards as the US dollar retraced from 2024 highs aligned with the fall in treasury yields
[updated]
Stats NZ says food prices rose 0.9% in January, while rents for new tenancies shot up 2.5%, and tobacco prices increased 6.4% - but airfares went into reverse
14th Feb 24, 11:25am
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Stats NZ says food prices rose 0.9% in January, while rents for new tenancies shot up 2.5%, and tobacco prices increased 6.4% - but airfares went into reverse
Stronger than expected US CPI data rock the market, pushing out the timing of any likely Fed rate cuts; Core measure up 0.4% m/m, annual figure steady at 3.9%. NZ inflation expectations data were market-friendly
14th Feb 24, 7:29am
1
Stronger than expected US CPI data rock the market, pushing out the timing of any likely Fed rate cuts; Core measure up 0.4% m/m, annual figure steady at 3.9%. NZ inflation expectations data were market-friendly
[updated]
Influential RBNZ survey shows a decisive drop in the expectation of future levels of inflation in a result that will give the RBNZ comfort ahead of its next Official Cash Rate decision
13th Feb 24, 3:35pm
20
Influential RBNZ survey shows a decisive drop in the expectation of future levels of inflation in a result that will give the RBNZ comfort ahead of its next Official Cash Rate decision
Pricing for RBNZ rate hikes fades a little, down to 33% chance for February meeting; domestic rates market messy with OIS yields lower, 2-year swap lifting to 5.23%. US Treasury rates little changed; US equities continue to push higher
13th Feb 24, 7:48am
Pricing for RBNZ rate hikes fades a little, down to 33% chance for February meeting; domestic rates market messy with OIS yields lower, 2-year swap lifting to 5.23%. US Treasury rates little changed; US equities continue to push higher
[updated]
There are clear signs that the RBNZ’s 'heavy handed hikes' are inhibiting household demand, and hurting business, Kiwibank economists say
12th Feb 24, 12:22pm
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There are clear signs that the RBNZ’s 'heavy handed hikes' are inhibiting household demand, and hurting business, Kiwibank economists say
The S&P500 closed at a record high. US CPI revisions received greater attention than usual but were unchanged. The NZD advanced despite a generally stable US dollar backdrop amid a sharp repricing of RBNZ expectations
12th Feb 24, 7:33am
2
The S&P500 closed at a record high. US CPI revisions received greater attention than usual but were unchanged. The NZD advanced despite a generally stable US dollar backdrop amid a sharp repricing of RBNZ expectations
ANZ's Sharon Zollner says the Reserve Bank could shock New Zealand by lifting the Official Cash Rate 50 basis points to 6%
9th Feb 24, 1:32pm
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ANZ's Sharon Zollner says the Reserve Bank could shock New Zealand by lifting the Official Cash Rate 50 basis points to 6%
Traders and economists are losing hope that interest rate cuts could occur in the first half of 2024 after discouraging data updates
9th Feb 24, 12:33pm
12
Traders and economists are losing hope that interest rate cuts could occur in the first half of 2024 after discouraging data updates
Global rates push higher; Fed and ECB speakers continue to run the line of being patient regarding future rate cuts. USD broadly stronger, NZD back below 0.61 and AUD below 0.65
9th Feb 24, 7:41am
Global rates push higher; Fed and ECB speakers continue to run the line of being patient regarding future rate cuts. USD broadly stronger, NZD back below 0.61 and AUD below 0.65
S&P is closing in on the 5,000 level. US treasury yields stable. ECB official pushed back against chance of near-term rate cuts. Stronger NZ labour market data contributed to higher yields and the market pricing a small chance of a hike
8th Feb 24, 7:49am
S&P is closing in on the 5,000 level. US treasury yields stable. ECB official pushed back against chance of near-term rate cuts. Stronger NZ labour market data contributed to higher yields and the market pricing a small chance of a hike
With the Reserve Bank having little choice but to dig its toes in to fight non-tradeable inflation, Gareth Vaughan hopes the Government has an open mind to providing long-term support
8th Feb 24, 5:00am
47
With the Reserve Bank having little choice but to dig its toes in to fight non-tradeable inflation, Gareth Vaughan hopes the Government has an open mind to providing long-term support
Stronger employment data could spook the Reserve Bank into raising the Official Cash Rate above 5.50%, economists say
7th Feb 24, 2:04pm
58
Stronger employment data could spook the Reserve Bank into raising the Official Cash Rate above 5.50%, economists say
US Treasury yields fall back after significant two-day sell-off. Chinese equities well supported after State regulator steps in. No fireworks from RBA yesterday. Dairy prices continue to recover
7th Feb 24, 7:53am
US Treasury yields fall back after significant two-day sell-off. Chinese equities well supported after State regulator steps in. No fireworks from RBA yesterday. Dairy prices continue to recover