Friday: Investors celebrate soft landing signs
Global stocks are celebrating the Fed’s big rate cut as confirmation of a soft landing. The Bank of England holds rates, as expected. The Bank of Japan is also seen holding later today. NZ GDP contracts less than the RBNZ forecast, reducing chances of an oversized cut. Australia’s jobs market continues to give the RBA a headache. In our bonus deep dive interview, ANZ Economist Henry Russell details the trip hazards of relying on high-frequency indicators, which the Reserve Bank of New Zealand may have just fallen over with its June quarter GDP forecast. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/