Friday – AFT Pharmaceuticals holds its AGM in at 10.30am in Milford.
The US Bureau of Labour Statistics is scheduled to publish non-farm payrolls figures for the month of July early on Saturday morning. Economists expect growth for the month of around 165,000.
Next week:
Monday – Prime Minister Jacinda Ardern is due to hold her weekly post-cabinet news conference around 4pm.
Tuesday – Parliament resumes for the third week of a three-week block at 2pm. The Parliamentary party caucuses meet around 10am.
Stats NZ is scheduled to publish labour force figures for the June quarter, including unemployment, jobs growth and wage growth figures at 10.45 am.
ASB economist Mike Jones has forecast quarterly wage growth of 0.4 percent and a rise in the unemployment rate to 4.4 percent from 4.2 percent. “Wage growth has failed to fire for years and the RBNZ is now openly wondering if extra capacity in the labour market is the reason,” Jones said. “We’re expecting a strong 0.7% lift in the key LCI wage measure (same as RBNZ), partly thanks to April’s 7.3% minimum wage increase. The RBNZ is now looking at a range of capacity measures and our view is that there is already more slack in the labour market than many believe,” he said.
The Reserve Bank of Australia is expected to hold its cash rate at 1.0 percent at 4.30pm NZ time. Economists see two more cuts to 0.5 percent by early next year.
Wednesday – The Reserve Bank of New Zealand is expected to cut its Official Cash Rate for a second time this year when it releases its next full set of forecasts with its quarterly Monetary Policy Statement at 2pm. Economists see a 25 basis point cut to 1.25 percent, with one more seen likely in mid-November with the next Monetary Policy Statement.
Thursday – Stats NZ is scheduled to publish Ready-mixed concrete secondary production for the June 2019 quarter at 10.45 am.
Friday – Stats NZ is scheduled to publish migration and tourism figures for the month of June at 10.45 am.
Further ahead:
October 31 – Britain is scheduled to crash out of the European Union in a ‘hard Brexit’ engineered by Prime Minister Boris Johnson.
