Friday: US rate cut bets rise ahead of PCE

Soft US data has lifted bets for Fed rate cuts this year ahead of May’s PCE inflation print today. There’s good news on inflation pressures in New Zealand. The Philippines central bank holds rates, but looks to pull its easing cycle forward. In our bonus deep dive interview, ANZ Chief Economist for Greater China Raymond Yeung explains why Chinese authorities are pushing for the RMB to become a global reserve currency. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/