Eamonn Sheridan

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Central Banks
nzd rbnz 27 November 2025 2
Central Banks

RBNZ’s Hawkesby: Further rate cuts face “high hurdle” as easing cycle ends

  • Hawkesby says further rate cuts would require a major shift in the outlook, effectively marking the end of the easing cycle. He warns too much dovishness risks keeping inflation stuck near 3%, and says current projections support holding the OCR steady through next year.
News
factory orders
News

Headline gains mask a weaker October as China’s industrial profit recovery loses steam.

  • China’s industrial profits rose 1.9% in January–October but October’s standalone result fell 5.5% y/y, indicating softening momentum after a stronger September period.
Central Banks
BoJ
Central Banks

BoJ’s Noguchi: Policy easing to fade only if wage gains sustain inflation momentum

  • Noguchi says the BoJ will only dial back stimulus gradually and only if demand and wages strengthen enough to anchor inflation. He warns some price pressures could reappear due to delayed cost pass-through, notes limited tariff impact so far, and says policy adjustments should track the BoJ’s projected inflation timeline.
Stock market update
STOCKS UP
Stock market update

JPMorgan: S&P 500 could top 8,000 by 2026 with deeper Fed rate cuts

  • The call supports a constructive equity bias, particularly in AI-levered sectors, while underscoring that Fed policy expectations remain the critical swing factor for index-level upside.
Central Banks
pboc cny yuan note 24 September 2025 4
Central Banks

PBOC sets USD/ CNY mid-point today at 7.0779 (vs. estimate at 7.0733)

  • PBOC CNY reference rate setting for the trading session ahead.
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