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ANZ and BNZ tip OCR to hit 1% by year-end after record drop in unemployment

ANZ and BNZ tip OCR to hit 1% by year-end after record drop in unemployment
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United statesNew zealandNew zealanderJarrod kerrSean broughtonStephen toplisGrant robertsonCovid deltaSharon zollnerAdrian orrNick tuffleyAndrew baylyNational partyReserve bankMinister grant robertsonஒன்றுபட்டது மாநிலங்களில்

ANZ and BNZ tip official cash rate to hit 1% by year-end after record drop in unemployment

Kiwibank chief economist Jarrod Kerr believed the unemployment number “all but confirms a rate hike from the Reserve Bank in August”, describing it as another upside surprise. Statistics NZ senior manager Sean Broughton said the drop in unemployment was largely in line with other labour market indicators, including declining numbers of beneficiaries, rising job vacancies, “and recent media reports of labour shortages and skills mismatches”. The number of people reporting they were “underutilised”, for example because they were working fewer hours than they wanted, also plummeted, falling by 48,000 people or 13.3 per cent over the quarter. Broughton said that big drop showed that spare capacity in the labour market was dwindling and that could lead to upward pressure on wage rates.

United statesNew zealandNew zealanderJarrod kerrSean broughtonStephen toplisGrant robertsonJohn carranCovid deltaImre speizerSharon zollnerAdrian orrPhilip loweNick tuffleyAndrew baylyAustralian reserve bank

New unemployment data may seal next interest rate move

New unemployment data may seal next interest rate move
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Sharon zollnerMark mitchellSatish ranchhodFinn robinsonJane turnerBank governor adrian orrReserve bankReserve bank governor adrianஷரோன் ஜொல்ல்நேர்குறி மிட்செல்சத்தீஷ் பண்ணையம்ஃபிந் ராபின்சன்ஜேன் டர்னர்இருப்பு வங்கி

Consumers in a spending mood as they prepare for price rises

This likely reflects wealth effects from the housing boom for those lucky enough to own a house, as well as excellent job security in an exceptionally tight labour market. People may also have felt it was wise to get in ahead of anticipated price rises. Respondents expected that in a couple of years, prices would be rising at an extremely high 4.9 per cent a year, instead of the typical 3.5 per cent. Econ Talks - Infometrics forecasts point towards overheating economy and higher inflation (16 July 2021) Because householders expected inflation, it would make it easier for retailers to raise prices without fear of a customer backlash and might also dampen wage demands in the tight labour market, Zollner said.

Roy morganSharon zollnerராய் மோர்கன்ஷரோன் ஜொல்ல்நேர்

Consumer confidence steady, inflation expectations high

Strong house prices and a tightening labour market continues to buoy consumer optimism. House price inflation expectations lifted by by 0.6 points to 6.4 percent over the month. Photo: RNZ / Claire Eastham-Farrelly The ANZ-Roy Morgan survey of consumers showed headline confidence was largely unchanged at 113 points in July, which was a little under its historical average of 120. Meanwhile, the proportion of people who thought it was a good time to purchase a major household item - a key measure of consumer confidence - rose by 2 points. This likely reflects wealth effects from the housing boom for those lucky enough to own a house, as well as excellent job security in an exceptionally tight labour market, ANZ chief economist Sharon Zollner said.

New zealandAnz roy morganSharon zollnerEast aucklandRoy morganபுதியது ஜீலாந்துஅன்வருள் ராய் மோர்கன்ஷரோன் ஜொல்ல்நேர்கிழக்கு ஆக்லாந்துராய் மோர்கன்