CPI 2.1% y/y – lot lower than expected – expected 2.6%, prior 2.9% – China’s Stats bureau citing fading Lunar New Year holiday effects the main reason for the CPI slow down
ANZ in New Zealand prduce a monthly inflation measure. For March: – -0.2% m/m (down for the second month in a row) – 2.9% y/y – Underlying measure (ex-housing) -0.4% m/m ANZ says the indicator shows price pressures “remain elusive outside of housing”
Further comments by China’s vice finance minister Zhu Guangyao China continuing to reiterate that their decision to go through with reforms and open up its economy further are its own choice, and not due to pressures by the US on the trade front.
The Westpac-Melbourne Institute Consumer Sentiment Index is above 100, which means optimists outnumber pessimists. but its a close run thing For the month: -0.6% to 102.4
Some comments by Moody’s on the US-China trade rhetoric A general assessment by Moody’s on the overall situation. Nothing much that we don’t already know, as the known unknowns (impact of the tariffs) is something that is difficult to envisage for the time being.
Fox ‘news’ with the report Also, other news; That via Reuters There has been a wee flow into yen …. USD/JPY off a few points on the headlines … circa 107.08 as I update
Saudi Arabia’s oil minister Khalid Al-Falih with some comments Well, that’s not exactly in line with how “private discussions” went if this by Bloomberg is to go by – saying that they want oil prices to head towards $80 per barrel.
Japan data on lending in March; this against a background of slower lending growth at banks since about mid-2017. Bank lending including trusts: 2.0% y/y – prior 2.1% Bank lending excluding trusts: 1.9% y/y
China’s vice finance minister Zhu Guangyao with some comments Chinese officials continue to reiterate the gist of Xi’s speech yesterday – reforms and opening up of the economy.
Commentary by Commonwealth Bank of Australia’s currency strategist, Elias Haddad As last month, CBA’s forecast is sort of the outlier compared to the median forecast which only sees the RBA move to hike the cash rate in Q1 2019.