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24 November 2023,02:43

Weekly Outlook

Anticipation Of RBNZ Holding High Rates

24 November 2023, 02:43

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The Week Ahead: Week of 27 Nov (GMT+2)

Tuesday, 28 Nov, 17:00 – US CB Consumer Confidence (Nov)

In October, U.S. consumer confidence dropped for the third consecutive month, sliding from 104.3 to 102.6. This decline, influenced by concerns over inflation and increased borrowing expenses, suggests a lack of market confidence in the U.S. economy.

Wednesday, 29 Nov, 03:00 – RBNZ Interest Rate Decision

Last month, the central bank of New Zealand kept its cash rate unchanged at 5.5%. Due to a decrease in consumer inflation, there are less expectations for further rate increases in November. It is now anticipated that the cash rate will need to be maintained at its current level of 5.5% for a longer period to achieve the desired inflation and employment goals.

Thursday, 30 Nov,15:30 – US Core PCE Price Index (MoM) (Oct)

In September, the US Core PCE Price Index met expectations by holding steady at 0.3%. Despite inflation increasing during this period, consumer spending exceeded expectations and demonstrated significant strength. However, there are also concerns that spending may moderate.

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