This is the Economic Corner – where we update you on all the biggest global economic announcements. First up is the important update coming in from the United States. President Joe Biden will announce a 1.8 trillion dollar plan to expand Americas social safety net. Fed’s Powell said that Inflation expectations are now more consistent with Fed's 2% inflation target than pre-pandemic.
International trade prices index numbers for Australia were released. Export price index rose 11.2 per cent this quarter and 8.6 per cent through the year while Import price index rose 0.2 per cent this quarter and fell 6.2 per cent through the year.
New Zealand, headline business confidence jumped 6 points in April to a net -2%, and firms’ own activity lifted 6 points to +22%.