The report highlights the upcoming RBNZ rate decision and provides a summary of global market activity following the US Independence Day holiday. It notes that while oil price drops have reduced the urgency for hikes, an OCR increase is still anticipated.
Key Takeaways
- 1.The RBNZ remains expected to hike the OCR this week despite reduced urgency following mid-June oil price declines.
- 2.Global market sentiment was quiet due to the US Independence Day holiday, with European equities and bond yields seeing modest gains.
- 3.UK wage expectations data from the BoE survey show no current transmission of the energy shock into wage setting.
Table of Contents
- Highlights
- Data and events today
- Financial markets
- Global markets overview
- Key data and events
- Key themes and views
- Market snapshot
- Key data releases
- What's ahead today
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Authors
Sharon ZollnerHenry Russell
Securities
XAUWTI Crude Oil
Themes
Central Bank PolicyInflation Persistence
Regions
GlobalEuropeNew ZealandUnited StatesUnited Kingdom