The Reserve Bank of New Zealand (RBNZ) is anticipated to reduce interest rates for the sixth consecutive meeting, mirroring the actions of the Reserve Bank of Australia. This decision follows the RBNZ’s statement last month, indicating room for further rate cuts amidst concerns over US tariffs posing downside risks to economic activity and inflation. Such a move underscores the central bank’s proactive approach to stimulating the economy in response to global economic uncertainties.
In Australia, the market is expected to open slightly higher, with ASX futures up 0.2% following gains in Europe. European stocks experienced a positive start to the week, recovering losses from the previous session, with the STOXX 600 index closing 1% higher. Global equity markets rallied as the Euro strengthened after President Trump postponed his decision to impose tariffs on the European Union. Meanwhile, the Australian dollar has weakened slightly, trading at US64.85c. Oil prices remain steady, with OPEC+ countries scheduled to meet on Saturday to discuss future output.
