NBR Radio Macroeconomics round up: More hints from Yellen and God Save the Queen for UK economy
Jason Walls breaks down the week's biggest news in macroeconomics on NBR Radio, and on demand on MyNBR Radio.
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Join Jason Walls as he breaks down the week's biggest news in macroeconomics on NBR Radio, and on demand on MyNBR Radio.
US Federal Reserve Chairwoman Jenet Yellen has given further indication that a US rate hike is coming this year.
NBR reporter Jason Walls tells NBR Radio that for the Fed boss, discussion about a rate hike is all about the economic data.
Mr Yellen told the US congress earlier this month that the economy is “close to where we want to be.”
“We now think the economy can not only tolerate but needs higher rates.”
Mr Walls says the rate hike will drive the US dollar up against the kiwi and it is likely the New Zealand dollar will be at around 60c against the US dollar by the beginning of next year.
In China, it has been a volatile week for the stock market again.
“Earlier in the week, the Shanghai Composite Index plunged 8.5%,” Mr Walls said, adding that was the worst fall since early 2007.
“But the dips in the market look to have subsided for now, as the government buying support emerged,” he says.
One of the biggest stories of the week came out of the UK, with the economy continuing produce some favourable numbers.
GDP was up 0.7% on the quarter, marking the 10th straight quarterly expansion.
Because of this, the Bank of England governor Mark Carney says the period of record low interest rates may be coming to an end.
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NBR Radio
Fri, 31 Jul 2015
Fri, 31 Jul 2015
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NBR Radio Macroeconomics round up: More hints from Yellen and God Save the Queen for UK economy
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