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J P Morgan - Latest News [Page 14]
OCR hikes official cash rate to record high
Thursday, 26 July 2007, 10:46 am | J P Morgan
The RBNZ hiked the official cash rate to 8.25% this morning, as broadly expected by 11 of the 16 economists surveyed by Bloomberg. The RBNZ again pointed to surging dairy prices, a tight labour market, high capacity usage, and rising oil and food ... More >>
Australia: Core CPI unexpectedly rose 0.9%
Wednesday, 25 July 2007, 3:07 pm | J P Morgan
The increase in Australia's Q2 CPI was unexpectedly high at 1.2%q/q, which is the largest rise since the corresponding quarter of 2006. This was well above market expectations of a 1.0% rise (JPMorgan 0.9%), although the annual rate dropped to ... More >>
RBNZ Preview: Rate Hike Followed by More Rhetoric
Wednesday, 25 July 2007, 12:08 am | J P Morgan
JPMorgan expects the RBNZ to hike the official cash rate (OCR) to a fresh record high of 8.25% tomorrow morning. The expected rate hike is a result of a stronger than anticipated nontradables inflation outcome in 2Q; the CPI result came on top ... More >>
Australia and New Zealand Weekly Prospects
Monday, 23 July 2007, 12:38 am | J P Morgan
Once again we have arrived at the quarterly fork in the road that is the Australian inflation data, and the 'will they, won't they' debate on the likely RBA response. A 0.7%q/q print on the core trimmed mean and weighted median statistical measures ... More >>
The RBNZ’s war on inflation is not over
Tuesday, 17 July 2007, 3:42 pm | J P Morgan
In a change of forecast, JPMorgan now expects the RBNZ to raise the OCR to a record high 8.25% next Thursday, 26 July. Thus far, RBNZ officials' firm resolve to pull the housing market into line, frustrations over expansionary fiscal policy, and concerns ... More >>
Inflation increases the risk of rates hike
Monday, 16 July 2007, 12:24 am | J P Morgan
Inflation pressure continued to build in 2Q, with headline inflation posting a larger than expected gain of 1.0%q/q (JPMorgan and consensus 0.7%). More concerning for the interest rate outlook, however, was the 1.1%q/q gain in non-tradables inflation* ... More >>
NZ's retail: rapid reacceleration, mixed messages
Friday, 13 July 2007, 1:05 pm | J P Morgan
Retail spending in New Zealand bounced by a much stronger than expected 1.2%m/m in May (JPMorgan and consensus 0.5%m/m), after falling 1.2%m/m in April. The report showed retail sales have returned to the same level to that recorded in March - at ... More >>
Aussie July Consumer Confidence Falls -- JP Morgan
Wednesday, 11 July 2007, 2:21 pm | J P Morgan
Consumer sentiment fell marginally in July, slipping 0.6% from the previous month, although still held close to a record high. The Westpac Melbourne Institute index of consumer sentiment fell from 121.5 in June to 120.8 in July More >>
Confidence drops on the back of 3 rate rises, NZD
Tuesday, 10 July 2007, 11:48 am | J P Morgan
According to the latest NZIER quarterly survey of business opinion, general business confidence dropped to -37 in 2Q (down from -15 in 1Q). The growing pessimism recorded in the survey was 'widespread' and expected. The decline in confidence is reflective ... More >>
Australia and NZ - Weekly Prospects, 9 July 07
Monday, 9 July 2007, 11:55 am | J P Morgan
In Australia, the RBA's decision to leave the cash rate unchanged last week means the pre-election rate hike window has all but closed. There is a small chance of an August hike, but the forecast now is for two 25bp moves in the first half of 2008—in ... More >>
Australia: trade deficit narrows in May
Wednesday, 4 July 2007, 2:35 pm | J P Morgan
Australia's trade deficit in May narrowed to A$807 million (JPMorgan -$885 million, consensus -$1200 million) from A$962 million in April (revised from - A$916 million). More >>
Australia and NZ - Weekly Prospects - 2 July 07
Monday, 2 July 2007, 12:35 am | J P Morgan
Until late last week, major market-moving economic data remained absent from the Australian economic calendar. Private sector credit aggregates, one of two key indicators becoming available prior to this week's RBA meeting, came to hand on Friday, however, ... More >>
GDP posts a solid 1.0%q/q gain in 1Q
Friday, 29 June 2007, 4:36 pm | J P Morgan
The New Zealand economy posted a strong 1.0%q/q gain in growth in 1Q (JPMorgan and consensus 1.0%), up from 0.8%q/q in 4Q, on the back of solid growth in consumption and investment. GDP growth is now running at 2.5%oya, up from 2.1% in 4Q. Domestic ... More >>
Aussie private sector credit aggregates up 1.2%m/m
Friday, 29 June 2007, 3:08 pm | J P Morgan
Australia's private sector credit aggregates rose 1.2%m/m in May (JPMorgan 1.3%, consensus 1.1%) compared to 1.2% in April (revised up from 1.1%). From a year ago, total private sector credit growth grew a solid 14.6%, the same rate as in the previous ... More >>
GDP posts solid gain in 1Q, above RBNZ expectation
Friday, 29 June 2007, 3:06 pm | J P Morgan
The New Zealand economy posted a strong 1.0%q/q gain in growth in 1Q (JPMorgan and consensus 1.0%), up from 0.8%q/q in 4Q, on the back of solid growth in consumption and investment. GDP growth is now running at 2.5%oya, up from 2.1% in 4Q. Domestic ... More >>
NZ's current account deficit narrowed
Thursday, 28 June 2007, 12:28 am | J P Morgan
New Zealand current account deficit (CAD) narrowed to NZ$2.217 billion in 1Q, from NZ$3.944 in 4Q, as export volumes for both goods and services rose over the quarter. The annual deficit narrowed to NZ$13.9 billion in 1Q (8.5% of GDP), from NZ$14.5 ... More >>
Aussie Dwelling Starts Rise In March Quarter
Wednesday, 20 June 2007, 4:46 pm | J P Morgan
Dwelling commencements surged 1.3%q/q in the March quarter, after rising just 0.6% (revised up from -0.8%) in the previous three months. More >>
JP Morgan: RBNZ's submission on housing
Monday, 18 June 2007, 2:32 pm | J P Morgan
The submission outlined the various drivers behind house price appreciation over the past decade and the resultant erosion in housing affordability. More >>
RBA still expected to raise cash rate on 4 July
Friday, 15 June 2007, 11:28 am | J P Morgan
RBA Governor Glenn Stevens today delivered a speech and answered questions at a business forum in Brisbane. The Governor stuck closely to the tone of the RBA's May quarterly statement that signaled that, while interest rates were more likely to rise than ... More >>
RBNZ today announced that it has sold NZD
Tuesday, 12 June 2007, 9:14 am | J P Morgan
The RBNZ has recently determined the NZD to be 'unjustified' and 'exceptionally high', effectively ticking two of the four boxes required for FX intervention. More >>
