Wednesday, 1st August, 2018
This week’s Q2 labour market update will be closely watched as employment is now an explicit consideration for the RBNZ under the new Policy Targets Agreement (PTA). We also take a closer look at the medium-term inflation picture this week. Offshore, there are a number of major data releases in the US including the Personal Consumption and Expenditure deflator (Tue), US Fed rate announcement (Wed) and Non-farm Payrolls (Friday). Central bank rate announcements are also due in Japan on Tuesday and the Bank of England on Thursday (for which UK markets are currently pricing an 80% chance of a rate hike).