Asia-Pacific markets were higher Tuesday morning with the Nikkei 225 rising 1.46% and the Japanese Yen increasing 0.42% against US dollars. Due to the Lunar New Year holiday, markets in China and Hong Kong, Taiwan as well as South Korea, Malaysia, Singapore and South Korea are closed.
The euro hovered near a 9-month high against the US dollar, drawing strength from Christine Lagarde’s comments on possible interest rate hikes and upbeat consumer confidence data coming from the Eurozone.
A report by the Wall Street Journal (WSJ) suggested that “US Federal Reserve officials are preparing to slow interest-rate increases for the second straight meeting and debate how much higher to raise them after gaining more confidence inflation will ease further this year.”
CPI in New Zealand drops in Q4 2022
Statistics New Zealand will release its CPI inflation report, for the fourth quarter 2022, later in the day. Some economists suggest that New Zealand’s inflation slowed down to 7.1% in the last quarter, on an annualised basis. The Reserve Bank of New Zealand, however, has indicated that it expects inflation will have reached 7.5%. This would be a 32 year high.
Commenting on the RBNZ’s monetary policy, Kiwibank analysts noted in their…