Global PMI surveys suggest the US economy is rollicking along in a way that might force the Fed to keep rates high for even longer. New Zealand retail sales bounce and there’s hope tax cuts in next week’s budget might give them more of a boost. In our bonus deep dive interview, ANZ Senior International Economist Tom Kenny reviews how the Bank of Japan’s commentary has shifted in recent months, and why that points to more rate hikes. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/