New Zealand's Finance Minister says the Treasury projects inflation could reach 7.4% in 2025/26 under the worst case scenario
New Zealand's Finance Minister projecting inflation could reach 7.4% in 2025/26 under worst-case scenarios suggests significant inflationary pressures ahead, which could influence monetary policy decisions.
Japanese S&P Global Composite PMI Flash (Apr) 52.40 vs. Exp. 51.4 (Prev. 53.0)
Japanese S&P Global Manufacturing PMI Flash (Apr) 54.9 vs. Exp. 51.8 (Prev. 51.6, Low. 52)
New Zealand's Finance Minister says the Treasury projects inflation could reach 7.4% in 2025/26 under the worst case scenario
PBoC is expected to set USD/CNY mid-point at 6.8294 (prev. 6.8635)
[MARKET UPDATE] Oil futures surged about USD 4/bbl over 8 minutes, but have since pared the majority of the move, amid no news catalysts
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- Forecasts unemployment rate at 5.7% and real GDP of 0.8% if oil at USD 180/bbl.
- Seems highly unlikely that oil will hit USD 180/bbl.
- Economic recovery is delayed not derailed.
The accompanying forecasts of a 5.7% unemployment rate and 0.8% GDP growth, contingent on high oil prices, indicate a challenging economic landscape, but the assertion that recovery is merely delayed rather than derailed may temper immediate market concerns.
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