Summary：Australia's finances are improving, on track for a high budget surplus, but may turn to deficit in the future. The central bank meeting is approaching, the market predicts a rate hike, but economists expect interest rates to remain unchanged. Australia and the U.S. monetary policy is different, the U.S. may first cut interest rates to deal with inflation.
Summary: The Bank of Japan is expected to lower its economic growth forecast in July, although GDP may decline slightly, but based on the view that the economy is recovering moderately, the GDP forecasts for fiscal years 2025 and 2026 are unchanged. Inflation is expected to stabilize, and the possibility of a rate hike becomes more likely this month.
Summary: Australia's surge in immigration has led to a tight rental market and record high rents. As net migration rises to 548,800 by September 2023, average rents across the country reach A$627, with some regions seeing increases of more than 10%.
Summary: New orders for Australian manufacturing rebounded after a slow start to the year, but theoutlook remains challenging. Andrew Mckellar calls for productivity issues to be addressed as manufacturers' sentiment on the outlook for the next six months improves slightly but remains pessimistic amid slowing demand improvement and rising costs.
Summary: With the start of the new fiscal year, a number of new policies have come into effect in Australia.
Summary：In May, the unemployment rate in Australia dropped to 4%, and the number of employed people increased to 14.3556 million, a month on month increase of 0.3%, with an annual growth rate of 2.5%. An increase in sick leave leads to a decrease in working hours. The total population has risen to 26.97 million, mainly due to net immigration. The labor market remains tense
Summary：The problem of vacant housing in Japan is becoming increasingly serious, and it is expected to cause economic losses of approximately 3900 billion yen over the next five years. The increase in vacant houses has affected land prices and the economy, causing a decline in the value of surrounding properties. The aging population and declining fertility rate are the main reasons.
Summary：Faced with the US and EU imposing tariffs on Chinese electric vehicles, Japan did not follow up immediately, but instead considered carefully to avoid damaging Sino-Japanese economic and trade relations. The G7 emphasized that it would not harm China's interests, but would protect companies from unfair competition.
Summary: The Australian government has requested that Chinese funds reduce their stakes in rare earth companies to protect national interests. Similarly, Canada has taken steps to limit Chinese investment in key mineral sectors, reflecting both countries' wariness of China's "core position" in the rare earth industry.
Summary: Core Logic reports that Australian home prices rose for the 16th consecutive month in May, with significant gains in the five major capital cities. Meanwhile, national housing rents rose 0.7% from a year earlier and 8.5% year-on-year, putting financial pressure on tenants.
