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5 Dec 2014
Key events ahead for Australia and New Zealand – DB
FXStreet (Barcelona) - The Deutsche Bank Team shares the key events in the week ahead for Australia and New Zealand, noting it to be an important week for both.
Key Quotes
“The Australian diary kicks off on Sunday with the release of the final report of the Financial System Inquiry. This has potential implications for broad sections of the Australian financial system. The front-end and AUD will then be particularly focused on the NAB survey and the November labour force data.”
“In New Zealand the highlight is the RBNZ’s MPS. Whilst economic activity is playing out much as the RBNZ had expected (supported by relatively low interest rates and rapid migrant inflows), a further downside surprise on CPI inflation in Q3 and the more recent sharp decline in crude oil prices means that the RBNZ is likely to significantly revise down its near-term outlook for inflation.”
“We expect this will lead the RBNZ to again push out the timing of projected further policy tightening until late next year. We expect that RBNZ’s projections will continue to imply a ‘terminal’ OCR of 4.5%, however.”
Key Quotes
“The Australian diary kicks off on Sunday with the release of the final report of the Financial System Inquiry. This has potential implications for broad sections of the Australian financial system. The front-end and AUD will then be particularly focused on the NAB survey and the November labour force data.”
“In New Zealand the highlight is the RBNZ’s MPS. Whilst economic activity is playing out much as the RBNZ had expected (supported by relatively low interest rates and rapid migrant inflows), a further downside surprise on CPI inflation in Q3 and the more recent sharp decline in crude oil prices means that the RBNZ is likely to significantly revise down its near-term outlook for inflation.”
“We expect this will lead the RBNZ to again push out the timing of projected further policy tightening until late next year. We expect that RBNZ’s projections will continue to imply a ‘terminal’ OCR of 4.5%, however.”