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J P Morgan - Latest News [Page 12]
RBNZ punchy on inflation outlook
Thursday, 6 December 2007, 12:14 am | J P Morgan
The RBNZ today left the official cash rate (OCR) unchanged at 8.25%, as expected by all 16 market economists surveyed by Bloomberg. The rhetoric delivered by the central bank was, however, more punchy on the inflation front; with likely personal ... More >>
Aust Annual growth still well above potential
Wednesday, 5 December 2007, 3:53 pm | J P Morgan
Australia's economy posted a chunky 1.0%q/q gain in the third quarter, in-line with market expectations (JPMorgan 1.1%, consensus 1.0%). The year-on-year growth rate, however, was lower than anticipated at 4.3% (JPMorgan 4.9%, consensus 4.8%). Significant ... More >>
Australia and New Zealand - Weekly prospects
Tuesday, 4 December 2007, 10:15 am | J P Morgan
• In Australia, the RBA almost certainly will keep the cash rate unchanged at 6.75% on Wednesday. The deteriorating inflation outlook argues for a higher cash rate, but worsening credit conditions and signs of stress in the global economy argue for ... More >>
Australia: 6.5% fall in business investment in 3Q
Thursday, 29 November 2007, 3:44 pm | J P Morgan
Today's September quarter business survey showed an unexpected 6.5% drop in spending in the September quarter, and a small downgrade to firms' expectations for spending in the year ended June 2008. In the previous survey, managers expected to raise business ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 26 November 2007, 1:37 pm | J P Morgan
In Australia, Saturday's federal election delivered the widely expected win for Labor, but is unlikely to bring much policy change (see research note in the attachment). Australia, therefore, has changed the party of government for the first time since ... More >>
Australia: new government, but little change
Monday, 26 November 2007, 1:20 pm | J P Morgan
The opinion polls, which have indicated for some time that Labor would win the election comfortably, didn't lie. Australians have changed the party of government for the first time since 1996, and for only the sixth time in the last 60 years. More >>
Permanent departures up, arrivals down
Tuesday, 20 November 2007, 1:12 pm | J P Morgan
Net permanent migration flows have a substantial impact on New Zealand's small, open economy. Net permanent migration is trending lower as departures have increased and arrivals have flattened off. In the month of October, New Zealand gained just 260 ... More >>
Retail sales volumes reflect higher interest rates
Thursday, 15 November 2007, 12:09 am | J P Morgan
The total volume of retail sales rose 0.2%q/q in 3Q (JPMorgan and consensus 0.2%) after a downwardly revised 0.7% contraction in the second quarter (previously -0.6%). Retail sales volumes have slowed dramatically over the past two quarters, falling ... More >>
NZ PPI Spikes On Dairy Farming Cost Increases
Wednesday, 14 November 2007, 12:15 am | J P Morgan
New Zealand's PPI spiked higher in 3Q on the back of surging costs in the dairy industry. Output prices rose 1.6%q/q in 3Q (JPMorgan 1.3%, consensus 1.1%), driven by a spike in the dairy cattle farming index (up 29%). The input producer price index rose 2.3%q/q ... More >>
J P Morgan: Aus. And NZ Weekly Prospects
Tuesday, 13 November 2007, 10:00 am | J P Morgan
• The RBA’s commentary last week announcing the widely anticipated 25bp rise in the cash rate to 6.75% was hawkish. Officials indicated that core inflation will be above the RBA’s 2-3% target range in early 2008. This is the clearest signal ... More >>
Employment, participation rate fell in 3Q
Thursday, 8 November 2007, 12:51 am | J P Morgan
According to Statistics New Zealand's 3Q labour force survey, labour market conditions tightened last quarter. The unemployment rate dropped to a new record low 3.5% (the lowest print in the survey's 20-year history), with the number of people unemployed ... More >>
Australian private sector credit grows 1.2%m/m
Wednesday, 31 October 2007, 2:29 pm | J P Morgan
Growth in Australia’s private sector credit aggregates moderated as expected in September, following an upside surprise in the previous month. RBA credit aggregates grew 1.2%m/m (JPMorgan 1.2%, consensus 1.0%), after jumping 1.4% in August (revised ... More >>
NZ's exports bolstered by Tui oil field production
Monday, 29 October 2007, 12:55 am | J P Morgan
New Zealand's trade balance for the month of September posted an upside surprise of -NZ$544 million (JPMorgan -NZ$650 million, consensus -NZ$700 million), thanks to an expected spike in the petroleum exports category. As mentioned in last week's ... More >>
Australia And Nz - Weekly Prospects, Oct 08, 2007
Monday, 8 October 2007, 3:49 pm | J P Morgan
In New Zealand, the QVNZ housing report released early this morning confirmed the weakness seen in the REINZ reports, and points to a housing market that is deteriorating. There are two key economic data releases out this week--the NZIER QSBO 3Q survey ... More >>
Australia and NZ - Weekly Prospects 25 Sept 07
Tuesday, 25 September 2007, 10:46 am | J P Morgan
RBA Governor Glenn Stevens provided last week's highlight with a punchy speech indicating that Australia's economy remains robust, despite financial market troubles, and that further restraint "perhaps would not be unwelcome". Whether this restraint is provided ... More >>
NZ current account deficit widened in 2Q
Thursday, 20 September 2007, 12:40 am | J P Morgan
New Zealand's current account deficit (in actual dollar terms) widened as expected in the June quarter to NZ$2.91 billion from NZ$2.21 billion in 1Q, but came in well below market expectations (JPMorgan NZ$2.55 billion, consensus NZ$3.39 billion). ... More >>
Australia And NZ Weekly Prospects - 17 Sep 2007
Monday, 17 September 2007, 2:28 pm | J P Morgan
This week's highlight: Australian RBA Governor Glenn Stevens' speech on Asia, Australia and Financial Markets on Tuesday. In a quiet week for economic data, any reference by the Governor to recent problems in financial markets will attract a lot of attention. More >>
RBNZ on hold with symmetrical neutral commentary
Thursday, 13 September 2007, 10:20 am | J P Morgan
The RBNZ today left the cash rate unchanged at 8.25%, as expected, and delivered a very neutral commentary acknowledging the great uncertainty that surrounds the economic outlook in the wake of the financial market meltdown. More >>
Consumer sentiment rebounds 4.2%m/m in Australia
Wednesday, 12 September 2007, 1:43 pm | J P Morgan
Consumer sentiment rose 4.2%m/m in September (JPMorgan 2.0%) after slumping 8.1% in the previous month. The Westpac-Melbourne Institute index of consumer sentiment rose from 111.1 in August to 115.7 in September, sitting comfortably above a reading ... More >>
Median housing price makes a spurious bounce back
Wednesday, 12 September 2007, 9:38 am | J P Morgan
Looking through the spurious bounce in the median house price - which jumped from NZ$345,000 in July to NZ$350,000 in August - and the perpetually up-beat view delivered by 'impartial' real estate agents, the REINZ housing report for August was weak. ... More >>
