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J P Morgan - Latest News [Page 13]
Australia Adds 31,900 Jobs In August
Thursday, 6 September 2007, 3:18 pm | J P Morgan
Australia added a massive 31,900 jobs in August (JPMorgan 12,000, consensus 17,500) after adding 19,000 jobs in July (revised down from 21,800). The growth in total employment was attributed mainly to an increase in full-time jobs of 29,100. More >>
RBA left the cash rate unchanged at 6.5%
Wednesday, 5 September 2007, 12:13 am | J P Morgan
As expected, the RBA today left the cash rate at 6.5%, following yesterday's Board meeting. The 'no change' decision follows a 25bp hike in August, which marked the ninth such increase to the cash rate in this extended tightening cycle that started ... More >>
Aussie Corporate Profits Slow In Q2, Still Healthy
Monday, 3 September 2007, 4:06 pm | J P Morgan
Despite the moderation in profits in the June quarter, corporate Australia continues to enjoy healthy revenue growth. Companies appear to be keeping a lid on controlling costs. Labour costs remain well contained, despite a persistently tight labour market. More >>
Australia and NZ - Weekly Prospects, Sep 3, 2007
Monday, 3 September 2007, 3:59 pm | J P Morgan
This week's highlight will be the 2Q GDP data on Tuesday--we expect the economy to have grown 0.6%q/q--but the August employment report, which is the first economic data to reflect any impact of the turmoil in financial markets, will be a key indicator. More >>
Research note: A model to predict RBA decisions
Friday, 31 August 2007, 11:51 am | J P Morgan
We have developed a model to aid the process of predicting RBA policy decisions. The model estimates the probability, measured in basis points relative to a 25bp tightening or 25bp ease, of a move in any given month. The model's fit is good, with ... More >>
Confidence rose on NZD decline, dairy payout
Thursday, 30 August 2007, 4:54 pm | J P Morgan
Today's release of the August NBNZ business confidence index showed a slight improvement in confidence after the NZD tumbled US 10 cents from its high (US 0.81 cents) and Fonterra (New Zealand's largest dairy cooperative) announced a massive increase to ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 27 August 2007, 1:00 pm | J P Morgan
* Last week's Australian economic calendar was quiet, but this week the schedule expands significantly to include business investment, retail sales, private credit, and the current account. Firms most likely will estimate a 10% rise in investment ... More >>
Exports grounded as Kiwi flys high in July
Friday, 24 August 2007, 12:41 am | J P Morgan
The rapid appreciation of the Kiwi dollar - which hit a post-float high of US 0.8110 in the month of July - has continued to dilute the value of exports. New Zealand's trade deficit worsened in July as exports fell and the value of imports increased. ... More >>
Aussie Govt Has Extra A$3.7b For Election Campaign
Wednesday, 22 August 2007, 12:03 am | J P Morgan
Australia's Treasurer, Peter Costello, today announced that Australia's budget outcome for the year ended June 2007 was unexpectedly large, at an underlying cash surplus of A$17.3 billion (1.7% of GDP). This is substantially higher than the A$13.6 billion ... More >>
Australia and New Zealand - Weekly Prospects
Monday, 20 August 2007, 12:28 am | J P Morgan
In what will be a quiet week for data, second tier releases on credit card spending and July's trade balance nevertheless will provide valuable insight on the underlying forces brewing in New Zealand. More >>
RBA Governor testimony to Parliamentary committee
Friday, 17 August 2007, 4:08 pm | J P Morgan
RBA Governor Glenn Stevens today delivered his six-monthly testimony to the House of Representatives Standing Committee on Economics, Finance and Public Administration. The Governor delivered a prepared statement that echoed the hawkish tone of Monday's ... More >>
Australia and New Zealand Weekly Prospects
Monday, 13 August 2007, 12:29 am | J P Morgan
The RBA again takes centre stage this week, with a premiere performance on Monday and an encore Friday. The tone of Monday's quarterly policy statement will echo last week's announcement of the higher cash rate. Importantly, the statement probably ... More >>
House Prices Fall For 2nd Consecutive Mnth In July
Thursday, 9 August 2007, 4:53 pm | J P Morgan
According to today's early release of the REINZ July property price report, the national median house price dropped 0.7% to NZ$345,000. July's house price decline was the second consecutive monthly fall - down from NZ$347,500 in June and the record NZ$350,000 ... More >>
Australia adds 21,800 jobs in July
Thursday, 9 August 2007, 3:32 pm | J P Morgan
Australia added 21,800 jobs in July (JPMorgan and consensus 25,000) following a 9,000 increase in June (revised up from 2,500). The growth in total employment was attributed to a 21,700 increase in full-time jobs, while the number of part-time ... More >>
Unemployment rate drops back to historic low
Thursday, 9 August 2007, 12:38 am | J P Morgan
New Zealand's labour force survey posted a stronger than expected 0.7%q/q gain (14,000 positions) in employment in 2Q (JPMorgan 0.2%, consensus 0.3%), after a rapid 1.2% spike in 1Q. The continued momentum in employment growth took the unemployment rate ... More >>
RBA raised cash rate 25bp as expected
Wednesday, 8 August 2007, 12:21 am | J P Morgan
As expected, the RBA today announced a 25bp rise in the cash rate to 6.5%, following yesterday's Board meeting. Today's rise is the ninth in this extended tightening cycle that started back in mid-2002, but the first since last November. This is the ... More >>
Australia and New Zealand - Weekly Prospects 7/8
Tuesday, 7 August 2007, 12:36 am | J P Morgan
* We expect the RBA to raise the cash rate 25bp on Wednesday.* Monday's New Zealand labour cost index showed wages growth above 3%oya, a rate consistent with building inflation pressure in the pipeline. * Two recent developments challenge our 2H07 ... More >>
Wages growth plagues inflation outlook
Monday, 6 August 2007, 12:20 am | J P Morgan
New Zealand's Labour Cost Index (LCI) posted another solid gain of 0.6%q/q in the second quarter (following a 0.6%q/q rise in 1Q), taking the annual rate to 3.1%oya (off slightly from 3.2%oya in 1Q07, 4Q06 and 3Q06). Private sector wages grew at ... More >>
NZ house price inflation a slow burn with lagging
Friday, 3 August 2007, 1:27 pm | J P Morgan
JPMorgan's housing model shows that New Zealand's market currently is undersupplied * Housing supply is likely to be subdued over the medium term as constraints persist * Policy changes aimed at stimulating supply are essential to alleviate the home ... More >>
Australia and New Zealand Weekly Prospects
Monday, 30 July 2007, 12:05 am | J P Morgan
The RBNZ last week hiked the official cash rate (OCR) to an unprecedented 8.25%. The statement announcing the policy change was less hawkish than expected, with officials stating that the four tightenings this year should be enough to turn inflation. The ... More >>
