Australia:<\/p>\n
Wed: CPI inflation (Q3), RBA senate committee hearing<\/p>\n
Thu: International trade prices (Q3), Resmed FY results, Capstone Copper Q3 results<\/p>\n
Fri: Private sector credit (Sep), Producer Price Index (Q3)<\/p>\n
International:<\/p>\n
Tue: CN \u2014 Industrial profits (Sep)<\/p>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0US \u2014 Durable goods orders (Sep) Home prices (Aug)<\/p>\n
Wed: UK \u2014 2027 budget<\/p>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0NZ \u2014 RBNZ rates decision<\/p>\n
Thu: US \u2014 Federal Reserve rates decision, PCE inflation (Sep), GDP (Q3)<\/p>\n
\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0CA \u2014 Bank of Canada rates decision<\/p>\n
Fri: EU \u2014 ECB rates decision, GDP (Q3)<\/p>\n
\u00a0 \u00a0 \u00a0 \u00a0 JP \u2014 BoJ rates decision<\/p>\n
Locally, the key event of the week will be the Q3 CPI from the ABS on Wednesday.<\/p>\n
The market consensus is that the headline inflation rate will be 1.3% over the quarter, up from 0.6%, but will hold the annual pace flat at 3.9%.<\/p>\n
The RBA’s preferred Trimmed Mean measure is expected to come in at 0.6% over the quarter is forecast to edge up to around 1.o%, which would also see the annual hold at 3.6%.<\/p>\n
“If realised, this would mark the fifth consecutive quarter in which trimmed mean inflation has increased by between 0.8% and 1.0%, highlighting the persistence of underlying inflation pressures,” CBA’s economics team wrote in a weekend note.<\/p>\n
“The outcome would also be above the RBA’s August forecast for trimmed mean inflation of around 0.8%\/qtr, although the strength of the July and August monthly CPI prints means some deterioration in the inflation outlook is already well understood by the Board.”<\/p>\n
There will be another important insight into inflation with Friday’s release of the Q3 Producers’ Price Index.<\/p>\n
“Final demand prices rose 1.3%\/qtr and 3.6%\/yr in Q2, the strongest quarterly increase since September 2023, with higher energy, freight and construction costs prominent,” CBA said.<\/p>\n
“The Q3 release will therefore be useful for assessing whether recent energy and supply chain pressures are continuing to lift upstream inflation.”<\/p>\n
Around the time the CPI figures drop on Wednesday, RBA Governor Michelle Bullock and her key lieutenants will be fronting the Senate Estimates Committee in Canberra, so we may get a real time reaction to the data.<\/p>\n
Overseas, the focus will be on interest rate decisions from some of the biggest and most influential central banks.<\/p>\n
The biggest and most influential, the US Federal Reserve makes its call on Thursday and is expected to keep its powder dry with a number of key voting members suggesting they are not in a hurry to lift rates again soon.<\/p>\n
The Bank of Canada will follow soon after and it too is expected to be on hold, although a split decision is expected.<\/p>\n
The European Central Bank and the Bank of Japan on Friday are also expected to be on hold, although the BoJ’s guidance has not been that clear, and both are tipped to make another hike before the end of the year.<\/p>\n
New Zealand’s central bank is expected to lift its cash rate on Wednesday 25bp to 3.0%.<\/p>\n
The big economies will also publish Q3 GDP numbers. Solid consumer spending and AI investment should see US GDP growth holding up at 3.4% (YoY).<\/p>\n
The EU is expected to report a 0.3% jump in GDP over the quarter, following on from solid growth of 0.6% in Q2.<\/p>\n
Another one to watch will the first UK budget brought down by new Prime Minister Andy Burham. His Chancellor John Healy has said that he will stick to the current fiscal rules and aims to deliver “a buffer also for uncertainty”.<\/p>\n","protected":false},"excerpt":{"rendered":"Australia: Wed: CPI inflation (Q3), RBA senate committee hearing Thu: International trade prices (Q3), Resmed FY results, Capstone…\n","protected":false},"author":2,"featured_media":941274,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[2001,64,63,166,2009,99,2005,160,2010,2006,2002,1491],"class_list":["post-941273","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-asx","tag-au","tag-australia","tag-australian-dollar","tag-bitcoin","tag-business","tag-dow-jones","tag-live-blog","tag-live-update","tag-nyse","tag-share-market","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/941273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=941273"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/941273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/941274"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=941273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=941273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=941273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}