Monday 21st October 2024
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China’s CSI300 rose sharply on Friday. There was some positive data released, although in general the picture shows an economy that is slowing, held back by falling house prices. NAB’s Rodrigo Catril says the interest in shares on Friday was driven by policies aimed at share buybacks. Japan’s inflation provided more ammunition for hikes, eventually, whilst UK retail sales provided another reason for the Bank of England to avoid rushing into cuts. This week the Bank of Canada will announce its next rate cut, and the RBA’s Andrew Hauser gives a fireside chat where he will no doubt reiterate that they too see no need to rush into cuts.
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