Economic Calendar: US inflation and rate hikes from NZ, Canada and Korea

Mon 11 Jul 22, 10:36am (AEDT)
Shipping container logistics exports imports
Source: Unsplash

Key Points

  • Central banks from Korea, New Zealand and Canada are all expected to hike rates this week
  • US inflation data is expected to climb higher and keep the Fed focused on aggressive rate hikes
  • China's second quarter GDP is expected to weaken sue to Shanghai's lockdown

It’s a massive week for economic data and interest rate decisions. The S&P/ASX 200 and broader financial markets seem to be getting close to pricing in short-to-medium term interest rate expectations, but that might change with the figures coming through this week. 



Global financial markets will pay close attention to US inflation figures on Wednesday. Economists expect CPI to remain elevated at 8.8% year-on-year in June following a 8.6% reading in May.

USIRYY 2022-07-11 10-09-34
US Inflation Rate (Source: TradingView)


The UK Conservative Party is in the midst of selecting a new leader after Boris Johnson stepped down last week.

There will be a massive UK data dump on Wednesday, including GDP growth for May. GDP is expected to remain flat month-on-month after a -0.3% contraction in April. 


Germany’s ZEW Economic Sentiment Index has been dabbling close to all-time lows around -30 to -50. Figures are expected to worsen in July, down to -40.

We’ll also get a look at the final German CPI for June on Wednesday, which has been easing thanks to government subsidies for oil.


It’s a heavy week for Chinese economic data, as covid cases return to several cities including Shanghai, Beijing and Xi’an.

Data is especially heavy on Friday, where investors will see figures for GDP, industrial production, retail sales and housing prices.

Economists expect China’s second-quarter GDP growth to moderate to 1.7% year-on-year and down -2.1% compared to the first quarter. A growth beat could send some positive flows for commodity markets, especially iron ore. 


Aussie unemployment is expected to remain unchanged at all-time lows of 3.9% in June.

New Zealand

The Reserve Bank of New Zealand is expected to hike interest rates by 50 bps to 2.5% on Wednesday. A 25 or 75 bps hike is possible, but unlikely. 

Economic events

Monday, July 11


Tuesday, July 12

  • 11:30 am: Australia NAB Business Confidence

  • 7:00 pm: Germany ZEW Economic Sentiment Index

Wednesday, July 13

  • 10:30 am: Australia Consumer Confidence

  • 11:00 am: Korea Interest Rate Decision

  • 12:00 pm: New Zealand Interest Rate Decision

  • 1:00 pm: China Balance of Trade, Exports and Imports (June)

  • 4:00 pm: Germany Inflation Rate (June)

  • 4:00 pm: UK GDP (May)

  • 10:30 pm: US Inflation (June)

Thursday, July 14

  • 12:00 am: Canada Interest Rate Decision

  • 11:30 am: Australia Unemployment Rate

  • 10:30 pm: US Producer Price Index (June)

Friday, July 15

  • 11:30 am: China GDP

  • 11:30 am: China House Price Index, Industrial Production, Retail Sales, Fixed Asset Investment

  • 10:30 pm: US Retail Sales


Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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