Yeah if CPI stays high then RBNZ only have one mandate!!
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Yeah if CPI stays high then RBNZ only have one mandate!!
Watch for the trimmed mean CPI ....RB uses a version of that
Usually higher than headline CPI
So tractor sales are the lowest for a month since February 2001.
Times are still tough down on the farm.
I haven't read any stats around the Field days sales this year.
add's to the very negative economic data yest.
service pmi lowest since GFC
house inventory and prices :scared:
card spending declined again + i imagine employment layoff's are probably getting started now which will show up in data late this yr which just compound the other things :scared:
china data yest was grim wont help farmers :scared:
Majority of Banks forecast first rate cut in February 2025.
https://www.oneroof.co.nz/news/banks...his-year-45799
NZ 10Y closed at 4.388% today ...High of this cycle was 5.607% we have come a long way down ...need pay more attention to real rates then forecasts ...10Y is quite a marker on rates and has high negative correlation with NZX50
No wonder today NZX50 closed at 17 months high ...NZ10Y almost close to 52 week low
https://www.nzherald.co.nz/business/...E75NOW6J5MDIE/
trump trade in full swing now