Australia and NZ: Key economic releases for the week ahead – ANZ

The research team at ANZ explains that the Australian event calendar is light this week and markets will be awaiting the Australian CPI data next week (26 April), where ANZ expects the core measures to average 0.4% q/q and a headline print of 0.3% q/q.

Key Quotes

“Ahead of that, markets will be watching the New Zealand Q1 CPI data this Thursday which is often seen as providing a guide to how the Australian data may print. Note, that we would caution against using the New Zealand CPI as a reliable guide to either the actual Australian CPI, or risks around the forecasts. Our New Zealand team expects headline inflation to be back at the target midpoint (there-or-thereabouts), with food, petrol and base effects driving the lift (ANZ expects: +0.7% q/q; 1.9% y/y). While for some that could generate some ‘sticker shock’, as it would be the highest annual inflation since Q3 2011, we doubt it will sway the RBNZ much from its current thinking. Plenty of question marks surround the inflation outlook from here.”