Our ANZ Chart Pack has been updated with the latest data and our analysis of recent developments.
Although continued trade tensions have heightened economic uncertainty, they have had only a modest impact on consumer and business sentiment in the Antipodes. Indeed, we think the Australian economy will grow at around its trend rate over the coming quarters, buoyed by robust public demand and rising household disposable incomes. That should keep capacity pressures from easing and encourage the RBA to cut rates by less than markets are anticipating. By contrast, the New Zealand economy has struggled to find its footing following last year’s deep recession. Accordingly, we think there’s a compelling case for the RBNZ to cut rates further than most expect.
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