Economic News
RBNZ Likely to Pause Rate Cuts This Week; Economic Outlook Faces Pressures
New Zealand’s Reserve Bank (RBNZ) is expected to keep the Official Cash Rate (OCR) unchanged at 3.25% on July 10, pausing its streak of six consecutive rate cuts since August 2024. Market expectations for a cut this week stand at just 15%, though most forecasts anticipate 25–50 basis points of easing by November. ANZ Bank holds a differing view, assigning a 40% probability of a cut and projecting cumulative 75 basis points of reductions by February 2025, bringing the OCR to 2.5%.
German Industrial Orders Drop More Than Expected, Clouding Euro Zone Recovery
Germany’s industrial orders fell unexpectedly by 1.4% month-on-month in May, far exceeding the market’s projected 0.1% decline and ending a three-month recovery streak. Weak domestic demand emerged as the primary drag: domestic orders plummeted 7.8%, with the computer and electronics sector crashing 17.7%, while electrical equipment and basic metals industries also contracted.
Australia Officials Announce Heavyweight Decision: Not to Continue!
Australia Officials Announce Heavyweight Decision: Not to Continue!
China - Australia Trade Recovery Drives Growth in Australian Wine and Lamb Exports
In the year to March 2025, the recovery of China - Australia trade has brought good news to the Australian wine and lamb industries. The export value of Australian wine to China has soared by 1.01 billion Australian dollars to 1.03 billion Australian dollars. The return of leading wine companies such as Treasury Wine Estates has been the key driving force, leading to a 41% increase in the total export value of Australian wine to 2.64 billion Australian dollars.
Australia's Exports to US Surge, Reversing Trade Deficit
In the three months to March 2025, Australia's merchandise exports to the US surged more than three - fold year - on - year to A $16.7 billion, creating a trade surplus of A $4.1 billion and reversing a deficit of A $6.2 billion in the same period last year. Driven by the hedging demand triggered by Trump's tariff policies, the export of gold has become a key driving force
UK Economy Shows Mixed Signals: Ebbing Housing Policy and Pressured Manufacturing
The UK economy is displaying divergent signals, with the housing market and manufacturing sector showing contrasting trends. In March, mortgage lending in the UK increased by £12.963 billion, reaching a new high since June 2021. This was driven by homebuyers rushing to take advantage of the first - time buyer tax - break before it ended on April 1st. However, the housing market cooled rapidly after the policy ended.
One in Four French Households Live in Severely Under-Occupied Homes: Insee Study
A study released by France’s National Institute of Statistics and Economic Studies (l'Insee) on Tuesday, July 8, reveals that a quarter of French households reside in severely under-occupied homes—defined as having at least three more rooms than actually needed. This phenomenon affects 7.6 million primary residences, 93% of which are single-family houses, with three-quarters of these under-occupied homes exceeding 100 square meters in size.
London Housing Crisis Worsens: Double Blow of Homelessness and Construction Dilemma
London is facing a worsening housing crisis. In the first quarter of 2025, the number of rough sleepers reached 4,427, an 8% year - on - year increase, hitting a new record high. The government spends £4 million daily to accommodate 183,000 homeless people, including 90,000 children.
