Economy
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%.
Australian Shares Edge Up in Narrow Range; RBA Rate Decision Sparks Volatility
Australia’s benchmark S&P/ASX 200 inched up 0.02% to 8,590.7 on Tuesday, oscillating narrowly after the Reserve Bank’s surprise decision to hold rates steady triggered intraday dips. The index briefly turned negative in early trading but recovered modestly by close.
Trump Escalates Trade War: 25% Tariffs on Japan, South Korea and Others From August
U.S. President Donald Trump announced Monday that the U.S. will impose sharply higher tariffs on multiple trading partners, including Japan and South Korea, starting August 1, marking a new phase in the global trade war he launched earlier this year.
UK Stocks Trade Sideways; Energy Sector Under Pressure
London’s stock markets saw mixed trading on July 7, with the FTSE 100 flat and the FTSE 250 mid-cap index edging up 0.2%, as focus remained on the U.S. delaying tariff implementation to August 1 and progress in trade talks.
Amazon Hits 1 Million Robots, Launches DeepFleet AI to Revolutionize Logistics with "Second-Level Response"
Recently, Amazon announced that the number of its robots deployed globally has reached 1 million, and launched a generative AI foundation model named DeepFleet, bringing a major transformation to the logistics industry and opening a new era of "second - level response".
Fed Minutes Boost Rate Cut Hopes; Nvidia Briefly Tops $4 Trillion Market Cap
U.S. stocks rallied broadly on Wednesday, July 10, with the tech-heavy Nasdaq hitting a record high. The surge followed the Federal Reserve’s meeting minutes reinforcing expectations of rate cuts this year and Nvidia’s brief ascent to a $4 trillion market valuation.
Auckland CBD Retail Vacancy Hits 13%, Triple Wellington’s Rate Amid Mixed Pressures
Auckland’s downtown retail vacancy rate stands at 13%, nearly three times Wellington’s 5.3%, driven by overlapping factors. Oversupply plagues areas like Newmarket post-Westfield mall opening, requiring time to absorb excess space, while hybrid work models reduce foot traffic in the city center.