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J P Morgan - Latest News [Page 4]
Australia's economy to stall in 2009
Tuesday, 6 January 2009, 11:55 am | J P Morgan
Australia is in the midst of the first recession since the early 1990s, the ripples of the global economic hurricane belatedly having washed ashore. In fact, we forecast virtually no growth in Australia’s economy in 2009, and growth of only 1.7% in ... More >>
Australia and NZ - Weekly Prospects 5/1/09
Tuesday, 6 January 2009, 11:51 am | J P Morgan
In New Zealand, 3Q GDP data showed that the economy contracted for the third straight quarter. The current recession should be shallow, however, owing to significant personal income tax relief in the pipeline and the government’s recent decision to accelerate ... More >>
Australia and NZ - Weekly Prospects 8/12/08
Monday, 8 December 2008, 12:17 pm | J P Morgan
The RBNZ cut the cash rate 150bp to 5% last Thursday, in line with expectations, taking monetary policy to an "expansionary" position. The OCR now has fallen 325bp since July. RBNZ Governor Alan Bollard said that "ongoing financial market turmoil ... More >>
Economic data and event previews, 08/12/08
Monday, 8 December 2008, 12:03 pm | J P Morgan
Australia and New Zealand - economic data and event previews More >>
RBNZ cut to 150bp; terminal rate of 3.25% forecast
Thursday, 4 December 2008, 9:49 am | J P Morgan
The RBNZ today cut the official cash rate (OCR) 150bp to 5% (JPMorgan and consensus -150bp), taking monetary policy to an "expansionary" position. The OCR has now been lowered 325bp since July. More >>
Australia and NZ - Weekly Prospects 1 Dec 08
Monday, 1 December 2008, 12:25 pm | J P Morgan
• The slew of economic data scheduled for release in Australia this week will be overshadowed by the RBA policy announcement Tuesday afternoon. Our forecast calls for the RBA to cut the cash rate 75bp - the dominant risk is for a smaller move, ... More >>
NZ's trade deficit narrowed, net exports remain
Thursday, 27 November 2008, 12:05 pm | J P Morgan
Trade deficit narrowed to NZ$942 million • Export and import growth slowed • Net exports to remain a drag on GDP growth More >>
Australia and NZ - Weekly Prospects 24/11/08
Monday, 24 November 2008, 11:52 am | J P Morgan
In New Zealand, after data last week showing that producer price inflation eased in 3Q, the RBNZ should report this week an easing in inflation expectations in 4Q. Our forecast calls for headline CPI growth to be beneath the RBNZâs 1-3%oya ... More >>
PPI prices eased in 3Q, but still remain elevated
Wednesday, 19 November 2008, 11:41 am | J P Morgan
Rise in producer input and output prices eased in 3Q from previous quarter ... • ... but were sharply higher from a year ago, rising 13.6% and 9.8%, respectively • PPI report has few implications for monetary policy outlook More >>
Quarterly statement from Australia's RBA
Monday, 10 November 2008, 2:39 pm | J P Morgan
The Reserve Bank today released its eagerly awaited Statement on Monetary Policy, which comes after the RBA's most aggressive policy easing since the 1990-91 recession - the RBA has slashed the cash rate by a colossal 200bp in just 9 weeks, having hiked ... More >>
NZ unemployment spiked to five year high in 3Q
Thursday, 6 November 2008, 11:41 am | J P Morgan
New Zealand's jobless rate spiked up to 4.2% up in 3Q, from 3.9% in the June quarter, a slightly smaller rise than we had expected (JPMorgan and consensus 4.3%). Employment unexpectedly rose 0.1%q/q (3,000 persons, JPMorgan -11,000, consensus -13,000) over ... More >>
New Zealand: wage growth accelerated in 3Q
Monday, 3 November 2008, 12:04 pm | J P Morgan
Private sector labour costs surged 1.1%q/q • All sector labour costs increased 1.2% q/q • Unemployment rate expected to rise More >>
NBNZ confidence falls most in history of series
Thursday, 30 October 2008, 5:11 pm | J P Morgan
NBNZ business confidence falls most in history of series • Business confidence index at -42.3 in October • Firms' own activity expectations slump to -11 More >>
NZ's trade deficit blew out to more than NZ$1bn
Wednesday, 29 October 2008, 11:51 am | J P Morgan
Trade deficit blew out to NZ$1.1 billion • Annual trade gap widened to - NZ$5 billion • Exports rose 8%oya; imports surged 24% More >>
RBNZ cut OCR 100bp as expected. More to come.
Thursday, 23 October 2008, 10:34 am | J P Morgan
RBNZ cut OCR 100bp as expected • OCR to be lowered further - to 4.75% by 3Q09 on our forecasts • Fall in "stubbornly high" domestic price pressures RBNZ's key focus More >>
Australia: Stimulus package worth 1% of GDP
Tuesday, 14 October 2008, 4:34 pm | J P Morgan
The Australian government today took another decisive step in response to onset of the global financial crisis by announcing a significant loosening of fiscal policy. The Prime Minister and the Treasurer announced a package of additional spending worth ... More >>
RBNZ and NZ Treasury announced deposit guarantee
Tuesday, 14 October 2008, 9:29 am | J P Morgan
In a joint statement, the RBNZ and New Zealand Treasury on the weekend announced a deposit guarantee scheme similar to that announced by the Australian government (discussed in detail in an earlier email). The New Zealand authorities have yet to ... More >>
Australia guarantees deposits, wholsale funding
Monday, 13 October 2008, 5:38 pm | J P Morgan
The Australian government announced on the weekend that, with immediate effect, the government will guarantee all deposits with banks and other deposit taking institutions. The Government also will guarantee wholesale term funding by Australian financial ... More >>
Australia and NZ - Weekly Prospects 13 Oct 08
Monday, 13 October 2008, 2:13 pm | J P Morgan
The RBNZ surprisingly left the official cash rate (OCR) unchanged last week even though other central banks across the globe were easing policy. Following news of coordinated rate action among central banks, we thought the RBNZ might deliver an ... More >>
RBA unexpectedly slashed cash rate target 100bp
Wednesday, 8 October 2008, 9:42 am | J P Morgan
The RBA today stunned markets by announcing an unexpected 100bp reduction in the cash rate target to 6%. This is the second official rate cut in as many months, but the first triple-figure cut since 1992. The tone of the commentary announcing the ... More >>
