New Zealand house prices are expected to make a significant turnaround in the upcoming year, with a forecasted increase of 6% as a result of interest rate cuts by the Reserve Bank of New Zealand. Despite a recent decline, home prices in New Zealand are closer to their peak in November 2021, standing just 19%
Economy
The Ministry of Finance data revealed a 7.4% year-on-year increase in Japanese corporate spending on plant and equipment in the second quarter. This rise in expenditure is a positive sign for the economy and has raised expectations for a domestic-led recovery in economic growth. The data will be used to calculate revised gross domestic product
The energy sector in Brazil is facing challenges due to a drop in reservoir levels at hydroelectric plants. Despite the growth of wind and solar power, more than half of Brazil’s power supply still depends on hydroelectric plants. This has led to the implementation of a pricing system by the local power regulator, Aneel, which
China’s manufacturing sector experienced a decline in August, reaching a six-month low, according to an official factory survey. The official Purchasing Managers’ Index (PMI) dropped to 49.1 in August from 49.4 in July, falling below the 50-mark that separates growth from contraction. This was lower than the median forecast of 49.5 in a Reuters poll.
The recent surge in Wall Street stocks and the Dow reaching an all-time high were largely attributed to fresh U.S. economic data which hinted at a potential interest rate cut by the Federal Reserve in September. The solid increase in consumer spending during July showcased the strength of the economy while moderate price rises indicated
China’s recent announcement of an anti-subsidy investigation into imported dairy products from the European Union has raised tensions between the two economic powerhouses. The probe, which includes various types of cheeses, milks, and creams intended for human consumption, was initiated based on a complaint from the Dairy Association of China and the China Dairy Industry
Recently, the U.S. dollar has been holding near its lowest point in over a year against a basket of currencies, with sterling also trading near multi-year highs. The focus of the market has shifted towards predicting the extent of the upcoming U.S. interest rate cut. Traders are closely watching for any clues that could shed
Recent statements by Federal Reserve officials have suggested that a rate cut in September is highly probable. However, the exact extent of the reduction remains uncertain and will depend on various economic data points, according to Deutsche Bank economists. They anticipate that the size of the rate cut at the upcoming September meeting will be
The impact of Federal Reserve holdings on the economy’s momentum has been a topic of ongoing interest and concern. A recent paper presented at a central bank research conference shed light on the pivotal role played by the Fed’s holdings of mortgage bonds in shaping monetary policy. The paper highlighted the significance of quantitative easing
The recent dovish shift in the U.S. Federal Reserve’s policy has provided some relief for the Bank of Japan in its efforts to manage the strength of the yen. However, this shift could also present challenges for the BOJ, particularly in its plans to raise interest rates. With the divergence in policy paths between the
In a recent development, the Canada Industrial Relations Board ordered a halt to work stoppages at the country’s largest railways, Canadian National Railway (CNR) and Canadian Pacific (CPKC) Kansas City. This decision signifies an end to a disruptive service disruption that was threatening to have a significant impact on Canada’s export-driven economy. The ruling came
NASA officials announced that two astronauts who flew to the International Space Station in Boeing’s Starliner capsule will have to return to Earth on a SpaceX vehicle due to issues with the Starliner’s propulsion system. This decision was made after the propulsion system suffered glitches during the flight to the ISS, forcing the astronauts to