2100 GMT Reserve Bank of New Zealand Financial Stability Report (FSR)
this is a twice-yearly report
the report is usually a source of updates and review of (macroprudential) policy settings and financial regulation but this time around with the bank opening the taps in response to the coronavirus crisis it'll be more about reassuring markets the NZ financial system remains stable and the Bank is on the lookout for risks
2100 GMT Bank of Canada Governor Poloz & senior deputy Wilkins speaking
- Poloz spoke on Monday: Significant monetary stimulus needed in economic rebuilt
- first there will be an opening statement
- Q&A will follow (with members of the committee, ie. the Standing Senate Committee on National Finance)
0100 GMT RBNZ Governor Orr speaking on the earlier released FSR to a parliamentary committee
0130 GMT Australia Q1 Construction Work down
- expected -1.5% q/q, prior -3.0%
- As you can see from the prior the construction sector was weakening heading into Q1. In the early part of the quarter the Australian bushfires reduced work in the sector further, while impact from COVID-19 will be more noticeable in Q2.
I'll have more to come on this separately
0130 GMT China Industrial Profits for April
- prior -34.9% y/y
- April should be a better result than March as the Chinese economy began to emerge from lockdown. The point of the industrial profits data is that as these fall there is less money for firms to sink into investment ahead. Do keep in mind though that Chinese authorities will be adding economic stimulus to try to cushion economic impact of the COVID-19 response.
