Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments.
Data released over the past month showed that Australia's labour market, housing market, and underlying inflation were all softer than the RBA had expected. With domestic demand likely to remain subdued for a while, we now believe the Bank is done hiking rates this cycle. Elsewhere, survey data suggest that economic growth and core inflation in New Zealand are set to pick up further, albeit from low levels. The data broadly reinforce our view that the RBNZ will continue to withdraw policy stimulus and return to a neutral stance over the coming year.
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