5 in 5 with ANZ

China's inflation rates are higher than expected, but not enough to stop more easing. The US dollar is rising with higher US growth expectations, for now. And Philippines' GDP is much weaker than forecasts. In our Deep-Dive interview, ANZ's Chief Economist for Southeast Asia and India, Sanjay Mathur, explains why consumers in the region have responded so weakly to rate cuts this time around. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The Bank of England holds rates, but only just. US tech stocks wobble again. Australia's trade surplus grows as gold exports are strong. Japan's wage growth lags inflation, and Malaysia optimistically holds rates. In our Deep-Dive interview, ANZ FX Analyst Felix Ryan analyses some key currency movements following the de-escalation in US-China trade relations, including for dollar-yen. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Fed rate cut bets ease back after stronger US jobs and services reports. New Zealand's jobless rate rises but may be through the worst. Indonesia's growth is dented, and deflation continues in Thailand. In our Deep-Dive interview ANZ Senior Economist Miles Workman explains why the Reserve Bank of New Zealand will be feeling comfortable with how the country's labour market is performing. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The Reserve Bank of Australia holds, and was less hawkish than it could have been. South Korea's inflation is stronger than expected. And New Zealand's unemployment rate is expected to rise again later today. In our Deep-Dive interview ANZ Head of Australian Economics Adam Boyton analyses the RBA's ability to cut rates again after last week's inflation surprise. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The Reserve Bank of Australia is expected to hold later today, and then wait for inflation to come off the boil so it can cut for the last time in February. And Australia's housing market is heating up, but consumers are still cautious and job ads are falling. In part two of our Deep-Dive interview, I talk to Tatsuya Terasawa, the CEO of Japan's Institute of Energy Economics about the lessons others could learn Japan's critical minerals crisis of 2010. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

America's trade deals with Asian economies give them more time to improve their industrial sectors. Australia's rental property investors borrow at their fastest rate in 10 years. Consumer confidence falls in New Zealand. In our Deep-Dive interview, I talk to Tatsuya Terasawa, the CEO of Japan's Institute of Energy Economics about why critical minerals supply chains are so important. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Markets are mixed, weighing up a trade truce between China and the US against emerging doubts over whether the Fed can cut again this year. The ECB and the BoJ hold rates, as expected, and New Zealand business confidence lifts. In our Deep-Dive interview, ANZ International Economist Tom Kenny analyses Fed chair Jerome Powell's comments on the risks around a December rate cut. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The Fed has just cut its key policy rate by 25 basis points, as expected, and says it will end its Quantitative Tightening (QT) from December 1. The Reserve Bank of Australia looks set to hold next month after strong inflation data. In our Deep-Dive interview, ANZ Commodities Strategist Soni Kumari looks ahead to today's meeting between President Trump of the US and President Xi of China, and analyses how metals markets may react to any trade deal. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Markets are steady ahead of the Fed's expected rate cut tomorrow. Australia's disinflation progress is set to have stalled in Q3. And South Korea gets a GDP growth bump from a mid-year fiscal stimulus. In our Deep-Dive interview, ANZ Senior Commodities Strategist Daniel Hynes looks at how US sanctions on Russian oil companies might affect the global market. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks hit new highs, loving signs that Donald Trump will strike a trade deal with Xi Jinping later this week. Gold slumps below US$4,000/oz as the shine comes off its safe haven status. In our Deep-Dive interview, ANZ's Head of G3 Economics, Brian Martin, digs into why 200 basis points of easing by the European Central Bank isn't getting much traction with consumers and businesses. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The Fed is on track to cut this week, but the Bank of Japan is expected to hold. Markets will keep a close eye on Donald Trump's meeting with Xi Jinping on Thursday, and fresh Australian inflation data will be the focus for the Reserve Bank of Australia. In our Deep-Dive interview, ANZ Senior China Strategist Zhaopeng Xing details where China plans to invest in its new five year plan, and why that's important. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Oil prices surge 5% to two-week highs after the United States sanctions Russian oil exports. Gold rises too. Markets will focus tonight on delayed US inflation data the Fed watches closely. And inflation in Singapore is surprisingly strong. In our Deep-Dive interview, ANZ Economist Dhiraj Nim tracks how India's exchange rate has depreciated this year, as a US trade deal potentially draws nearer. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold continues its slide, while US stocks also drop, led by large tech stocks. Expectations the Bank of England will cut rates are rising after weaker inflation. And Bank Indonesia unexpectedly holds rates. In our Deep-Dive interview, ANZ Economist Krystal Tan analyses how Indonesia's authorities are looking to support growth. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold slumps as traders take profits and trade fears ease. Japan has a new Prime Minister. And Australian Consumer Confidence recovers slightly, as the RBA keeps a close watch. In our Deep-Dive interview, we talk to Austrade CEO Paul Grimes about the potential for deeper trade connections between Australia and Southeast Asia. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold and US stocks jump back to near their record highs overnight. China is on track to meet its 5% GDP growth target this year, with production and exports still going strong, despite all sorts of tariff drama. In part two of our Deep-Dive interview, ANZ's Head of Geopolitical Risk, Cameron Mitchell talks about a new era for geopolitics and trade, how long it might last, and who's winning so far. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Donald Trump calms fears about imposing 100% tariffs on China, saying that wouldn't be sustainable. France's credit rating is downgraded. Gold falls from its highs. And New Zealand's inflation rate may top 3%. In our Deep-Dive interview, ANZ's Head of Geopolitical Risk, Cameron Mitchell describes a new era for geopolitics and trade. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold surges over US$4,300/oz. Australia's unemployment rate jumps to its highest since 2021, sending the Aussie dollar down against the Kiwi. And New Zealand dairy farmers are in line for bumper returns. In our Deep-Dive interview, ANZ Senior Economist Matthew Galt looks at whether New Zealand's housing market might finally turn, as the Reserve Bank plans to ease lending restrictions. Before accessing this podcast, please read the disclaimer at ⁠https://www.anz.com/institutional/five-in-five-podcast/⁠

Markets firm on easing US-China trade tensions. China's deflation continues, as authorities set a stronger yuan fix. Australia's job market numbers today will be closely watched by the RBA. And Singapore's growth strengthens. In our Deep-Dive interview, ANZ Economist Sophia Angala reviews which Australian states and territories are doing well, including during the trade and geopolitical disruption seen this year. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US Fed chair warns of a weaker jobs market amid a shutdown data blindspot. The RBA Board leaves its options open. Australian consumer confidence drops to a 12-month low. And New Zealand's housing market goes sideways. In our Deep-Dive interview, ANZ Economist Arindam Chakraborty reviews Malaysia's 2026 Government budget and fiscal targets. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Markets bounce back overnight after Donald Trump downplays his new 100% China tariff threat. China's exports are stronger than expected. And New Zealand's traffic movements may indicate an economic turnaround has begun. In our Deep-Dive interview, ANZ's Chief Economist for Greater China, Raymond Yeung, suggests looking through the latest noise in the US -China trade dramas for the signal. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Trade tensions between the US and China escalate, which triggers a stock market selloff. But US bonds rally, and gold is up too on safe haven demand. And watch out today for trade data from China. In our Deep-Dive interview, ANZ Senior Commodities Strategist Daniel Hynes says China's stockpiling of oil has held up prices, for now. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US dollar surges against the euro and yen after political turmoil in France and Japan. Gold dips back below US$4,000/oz. NZ card spending shows signs of life. And the Philippines' Central Bank unexpectedly cuts rates. In our Deep-Dive interview, ANZ Economist Vicky Xiao Zhou looks at how China's economy is set to perform this quarter and to the end of the year. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold surges another 1.8% overnight. The Reserve Bank of New Zealand cuts its cash rate 50 basis points, which sends the Aussie dollar higher against the Kiwi. In our Deep-Dive interview, ANZ New Zealand Chief Economist Sharon Zollner looks at what was behind the RBNZ's large cut. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold rises through US$4,000/oz as fears grow there'll be a long US Government shutdown. Australia's labour market continues to ease, and a weak business survey in New Zealand means the Reserve Bank could cut 50 basis points today. In our Deep-Dive interview, ANZ Head of Asia Research Khoon Goh looks at Singapore's economic momentum, including how it is benefiting from a surge in AI-related investment. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The yen falls and Japanese bond prices slide after the election of a new Prime Minister, who is expected to oppose rate hikes and borrow much more. Vietnam's GDP surges with front-loaded exports to the US, and dairy prices fall. In our Deep-Dive interview, ANZ Economist Arindam Chakraborty explains why banks in ASEAN countries and India aren't passing on all of the recent rate cuts. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US Government shutdown cancels the release of key US jobs data. ANZ Research has raised its inflation forecast for Australia, and now sees the Reserve Bank of Australia delaying its final rate cut until February from November. In our Deep-Dive interview, ANZ Senior Rates Strategist Jack Chambers explains where Australian inflation is up, and why the RBA is likely to wait until after Christmas. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold is off its highs as US markets are relaxed about the US Government shutdown. Australian gold exports drop in August after a safe-haven boost in July. And Australian household spending growth weakens. In our Deep-Dive interview, ANZ Economist Maddy Dunk looks at what's driving Australia's housing market after a bumper September for price growth in the capital cities. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US Government shut down overnight and private jobs data is weak, so bond yields fell and gold rose. The Reserve Bank of India holds rates, but is seen cutting again soon. And Australian house prices jump in September. In our Deep-Dive interview, ANZ International Economist Kishti Sen analyses what's been supporting Papua New Guinea's currency, and how a wave of foreign investment is set to help the nation's economy. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks soften and gold rises overnight as fears grow about a US Government shutdown. The Reserve Bank of Australia holds rates, and there's renewed doubt about a cut in November. So the Aussie dollar rose against both the US dollar and Kiwi. In our Deep-Dive interview, ANZ New Zealand Chief Economist Sharon Zollner says there was a hint of Spring in the latest ANZ Business Outlook for September. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold surges a new record high over US$3,800/oz and US bond yields fall as fears of a US Government shutdown escalate. In Australia, the Reserve Bank is expected to hold the cash rate today, possibly with a hawkish tone. In our Deep-Dive interview, ANZ Chief Economist for Southeast Asia and India, Sanjay Mathur sees India's big IT exporters adjusting to Donald Trump's $100,000 fee for new H1B Visas. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US consumers are in a mood to spend, which is seen backing the Fed Chair's caution on rate cuts. New Zealand consumers are a bit more confident about their current finances, but not so confident about future house prices. In our Deep-Dive interview, ANZ Head of FX Strategy Mahjabeen Zaman explains how Aussie pension funds dealt with an apparent breakdown earlier this year in the traditional link between the Aussie dollar and global risk assets. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US bond yields rose and US stocks fell overnight after robust US growth figures reinforced views the Fed won't cut rates much. So the US dollar rose, and the Aussie and Kiwi dollars fell. And Australian job ads drop. In our Deep-Dive interview ANZ Senior Economist Miles Workman reviews the New Zealand Treasury's long-term outlook for Government spending released this week. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks fall on valuation concerns. Australia's monthly inflation picks up in August, posing questions for the Reserve Bank of Australia (RBA), and the Reserve Bank of New Zealand (RBNZ) has a new Governor from Sweden. In part two of a Deep-Dive interview on China's deflationary pressures, ANZ Chief Economist for Greater China Raymond Yeung looks at what authorities there can do to respond. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US traders looking for rate cut direction from the Fed chair were disappointed overnight. Australian consumer confidence drops again. And Singapore's inflation underperforms expectations. In our Deep-Dive interview, ANZ Chief Economist for Greater China Raymond Yeung analyses China's domestic deflation and what can be done to turn it around. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US dollar slides again, which nudges the Aussie dollar up again. How high can it go ahead of next week's decision by the RBA and tomorrow's key inflation data? And New Zealand's current account deficit improves a lot. In our Deep-Dive interview, ANZ Head of FX Research Mahjabeen Zaman looks at whether the Aussie dollar is about to break above its decade-long range against the Kiwi of 100 to 115 cents per Kiwi dollar. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

All eyes this week will be on US consumer price inflation data, to see whether the market's expectations of more than four extra Fed cuts can be justified. And the Bank of Japan holds, albeit with a surprise split vote. In our Deep-Dive interview, ANZ Senior Rates Strategist Jack Chambers looks at why the US housing market isn't getting as much stimulus from Fed rate cuts as you'd think. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Stocks hit fresh record highs after the Fed's rate cut, with another four forecast. Australia's jobs growth disappoints in August, and New Zealand's economy contracted much more than expected in Q2. In in part two of a Deep-Dive interview, ANZ Senior Commodities Strategist Daniel Hynes continues his analysis of the world's diverging oil market. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The Fed cuts and signals more to come. Australia's jobs figures today will be watched for signs of strength by the RBA. And New Zealand's economy is expected to have gone backwards in Q2. In our Deep Dive interview, ANZ Senior Commodities Strategist Daniel Hynes reviews how the global oil trade has shifted following Western sanctions being placed on Russia. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

The US dollar falls again ahead of a widely expected Fed rate cut early tomorrow morning. Australian consumer confidence about the long term hits a 15-year low, and New Zealand house prices are flat. In our Deep Dive interview, ANZ's Head of FX Research Mahjabeen Zaman looks at the big picture for the US dollar, and its focus on US Federal Reserve Chair Jerome Powell's comments tomorrow morning. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks and gold hit new record highs overnight ahead of an expected Fed cut this week, with more to come. The Aussie and Kiwi dollars finally join the risk-on rally. China's economy slows, and the Peoples Bank of China is set to start buying bonds. In our Deep Dive interview, ANZ New Zealand Chief Economist Sharon Zollner explains why she's downgraded her June quarter GDP forecast to a contraction of 0.4% from a 0.1% fall. The data is due on Thursday. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US consumer confidence slides below expectations, locking in expectations for a Fed rate cut this week. India's inflation is benign. And New Zealand's manufacturing sector contracts, but retail sales rise. In our Deep Dive interview, ANZ Group Chief Economist Richard Yetsenga summarises the likely fallout from Donald Trump's tariffs. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks hit fresh record highs after US inflation data reassured investors the Fed will cut next week, with more later in the year. Australian inbound tourism rises, but visitors from China aren't back at pre-pandemic levels. In our Deep Dive interview, ANZ Senior Asia Rates Strategist Jennifer Kusuma analyses Indonesia's worsening fiscal situation. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US stocks rise as producer prices drop ahead of CPI data tonight. China's core inflation rises, meaning the PBOC's easing cycle could be near an end. And New Zealand's traffic data shows the economy may pick up from Q3. In our Deep Dive interview, ANZ Senior Commodities Strategist Daniel Hynes looks at how China has been building up stockpiles of oil reserves, and why it's about to end. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US jobs growth has a record downward revision as traders turn their attention to inflation data for Fed cut clues. And Australian consumer confidence rises again, while business conditions also tick up in August. In our Deep Dive interview, ANZ Economist Sophia Angala looks at what has been driving Australian trade growth since the pandemic. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US interest rates kept falling overnight after last week's soft jobs data. So gold jumped to a new record high. Japan's GDP is revised higher. And China's exports to the US fell 33% in August. In our Deep Dive interview, ANZ Pacific Economist Kishti Sen has analysed the economic impact on Fiji from the home games of its mens and womens rugby union teams, known as the Drua. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

US jobs growth was much weaker than expectations, raising questions about whether the Fed could cut 50 basis points next week, rather than 25 basis points. Also, Japan's Prime Minister resigned last night, which may weaken the yen today. In our Deep Dive interview, ANZ's Group Chief Economist Richard Yetsenga looks at why long bond yields are rising and what the weak US jobs data means for global interest rates. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Stocks and bonds rally on more signs US jobs data tonight will be soft, and clear the way for the Fed to cut rates. Australia's household spend-up catches the RBA's attention, and Australia's gold exports hit a record high. In our Deep Dive interview, ANZ's Head of Asia Research Khoon Goh analyses the impact of US tariffs on Asian economies. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Weak US jobs data strengthens bets the Fed will cut later this month. Australia's economy grows faster than expected. And there's an export boost for South Korea. In our Deep Dive interview, ANZ's Senior Economist Adelaide Timbrell analyses Australia's stronger-than-expected Q2 growth. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Long bond yields rise in the UK to their highest levels since 1998 on fiscal fears. US long bond yields jump on Fed independence worries. Australia's final GDP indicators are weaker. And New Zealand's terms of trade hits another record. In our Deep Dive interview ANZ International Economist Kishti Sen reviews how Pacific economies can reduce their combined infrastructure deficit. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

Gold jumps to a fresh record high, as does silver. Australia's GDP growth is on track for 0.6% in the June quarter. And momentum is growing in Australia's housing market. In part two of our Deep Dive interview about a digital renminbi, ANZ's Chief Economist for Greater China Raymond Yeung unveils the missing link: a lack of demand for renminbi as a reserve currency. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/

A US court rules Donald Trump's reciprocal tariffs are illegal, but they'll keep going for now before an expected Supreme Court ruling. The Fed is still expected to cut later this month after key inflation data met expectations. In our Deep Dive interview, ANZ's Chief Economist for Greater China, Raymond Yeung, unpacks China's plans for a digital renmimbi. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/