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J P Morgan - Latest News [Page 10]
RBNZ: downside risks incorporated, still on hold
Thursday, 6 March 2008, 10:10 am | J P Morgan
As expected, the RBNZ this morning left the OCR unchanged and delivered a neutral commentary. The commentary acknowledged the significant deterioration in the growth outlook, whilst maintaining a hard line on upside risks to inflation. More >>
Australian GDP growth slows to 0.6%q/q in Dec q
Thursday, 6 March 2008, 9:22 am | J P Morgan
Australia's GDP growth slowed to 0.6% in 4Q (JPMorgan 0.5%, consensus 0.6%) from a revised 1.1% in the September quarter (previously 1.0%). Annual GDP growth slowed from 4.3% to a still-healthy, and above potential, 3.9%, primarily driven by domestic ... More >>
RBNZ - neutral commentary
Thursday, 6 March 2008, 9:16 am | J P Morgan
On hold for an extended period. As expected, RBNZ acknowledged downside risks to growth (housing, drought and trading partner growth concerns), upside to inflation (fiscal spending, emmissions trading and commodity prices). Growth has been downgraded ... More >>
Australian retail sales flat in January
Tuesday, 4 March 2008, 3:45 pm | J P Morgan
Growth in retail sales values was flat in January (JPMorgan 0.4%, consensus 0.5%) after rising a revised 0.4% in December (previously 0.5%). The moderation in sales growth emerged as consumer confidence plummeted in the January month (-8.4%m/m). ... More >>
Aussie current account deficit widens to 7% of GDP
Tuesday, 4 March 2008, 3:41 pm | J P Morgan
Australia's current account balance deteriorated significantly in the December quarter, mainly owing to a sharp widening of the goods and services balance. The current gap blew out to - A$19.3 billion (JPMorgan - A$17.6 billion, consensus -$18.0 billion) ... More >>
RBNZ MPS Preview: Less Hawkish, More Balanced
Monday, 3 March 2008, 5:04 pm | J P Morgan
This week's RBNZ monetary policy statement will show a some moderation in rhetoric More >>
Aust profits spike in 4Q, inventories moderate
Monday, 3 March 2008, 2:47 pm | J P Morgan
Company gross operating profits surged 3.9%q/q in 4Q (JPMorgan 1.2%, consensus 2.0%) after falling a revised 1.4% in 3Q (previously -2.1%). Meanwhile, business inventories rose 0.7%q/q (JPMorgan 0.4%, consensus 1.0%) after spiking 1.3% in 3Q. The stronger ... More >>
Exports good for now, but keep an eye on drought
Friday, 29 February 2008, 11:35 am | J P Morgan
New Zealand's January trade balance came in below expectations. The non-seasonally adjusted monthly deficit of NZ$320 million (JPMorgan NZ$100m, consensus NZ$267.5m) was still stronger than that recorded in January 2007. Although the report came in ... More >>
Australian business investment to remain strong
Thursday, 28 February 2008, 4:06 pm | J P Morgan
Australian business investment rebounded in the December quarter, rising 5.1%q/q (JPMorgan 6.0%, consensus 3.1%), after dropping a revised 6.2% in 3Q (previously -6.5%). More >>
Downturn In Migration Will Shake Housing Market
Thursday, 28 February 2008, 12:11 am | J P Morgan
When looking at my favourite second-tier economic data-point, net-permanent migration, it is hard to find any external support for New Zealand's faltering housing market. Annual immigration growth has fallen to a six year low. Net-permanent migration for ... More >>
Building approvals continue to decline
Wednesday, 27 February 2008, 11:54 am | J P Morgan
Total building approvals bounced just 3.3%m/m in January after a 3.9% decline in December. The number of building approvals (excluding apartments) rebounded a mere 5%m/m in January after a sizable fall of 11.8% in December. Looking through the noise ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 25 February 2008, 11:52 am | J P Morgan
Minutes from the RBA's monetary policy meeting released last week showed that Board members considered hiking interest rates 50bp at their February meeting. The RBA decided to hike the cash rate 25bp on February 5, but debated the need for a larger ... More >>
RBA's assistant governor maintains hawkish tone
Tuesday, 19 February 2008, 1:42 pm | J P Morgan
RBA assistant governor Malcolm Edey in a speech to the Committee for Economic Development of Australia earlier today largely restated the economic assessment offered in the bank's quarterly Statement on Monetary Policy last week, reaffirming widespread expectations ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 18 February 2008, 12:32 am | J P Morgan
In New Zealand, the highlight in what is looking to be a quiet week, will be the RBNZ's inflation expectations survey. The survey is likely to show a slight uptick in inflation expectations in line with rising food and fuel prices. More >>
Retail sales disappoint
Friday, 15 February 2008, 12:22 am | J P Morgan
New Zealand's retail sales growth came in below expectations in the December quarter. Retail trade volumes rose just 0.3%q/q (JPMorgan 0.5%, consensus 0.6%) in 4Q, after a weak 0.2% gain in 3Q. Retail trade in New Zealand continues to track changes in ... More >>
NZ housing market buckling under rates pressure
Wednesday, 13 February 2008, 1:04 pm | J P Morgan
According to the REINZ's January housing market report, the median house price fell from NZ$345,000 to NZ$340,000. The median house price has fallen NZ$12,000 from the recent peak in November. What is more worrisome for the housing market outlook, however, ... More >>
NZ PPI a little stronger than market expectations
Wednesday, 13 February 2008, 12:21 am | J P Morgan
New Zealand's PPI posted a stronger than expected 1.5%q/q gain in output prices (JPMorgan and consensus 1.0%q/q) in 4Q. More >>
QVNZ house prices 2nd consecutive monthly decline
Monday, 11 February 2008, 11:12 am | J P Morgan
According to the QVNZ January report, annual growth in house prices in New Zealand continued to fall. The annual growth rate dropped to 8.9% (JPMorgan 9%), the lowest rate in 12 months. The annual growth rate has fallen from 10% in December, 11.4% ... More >>
Australia and NZ - Weekly Prospects, 11 Feb 08
Monday, 11 February 2008, 12:23 am | J P Morgan
In New Zealand, the December retail sales data (Friday) will show good momentum over the end-year shopping period, and illustrate that consumers are still willing to load up on debt to consume. Today's QVNZ report confirmed further weakness in the ... More >>
NZ labour cost index was unexpectedly strong in 4Q
Tuesday, 5 February 2008, 11:57 am | J P Morgan
The total private sector labour cost index showed a jump in wages growth of 1.1%q/q (JPMorgan 0.8%, consensus 0.9%) in 4Q, the largest quarterly gain ever recorded. The 4Q spike took the annual rate of growth to 3.5%, the fastest annual rate since ... More >>
