On Tuesday 19 November, ANZ together with the Chamber, hosted the ANZ Chief Economist Luncheon Seminar with ANZ Chief Economist and Head of Research, Richard Yetsenga at the Roppongi Hills Club. The luncheon attracted over 50 guests, including ANZ guests and members of the Chamber. The seminar commenced with opening remarks by ANZCCJ Chair, Sally Townsend and ANZ Japan Country Head Mitch Mason, who mentioned that this year marks the 50th anniversary of ANZ’s relationship with Japan.
Mr Yetsenga led the seminar with an insightful presentation on the economic stagnation of the global economy and its potential impacts in the years to come. He highlighted key issues in the current economic climate, such as the slowdown of GDP growth, the changing nature of global value chains and the state of play in the Australian and New Zealand capital and housing markets. In particular, he noted that the Australian growth phase is over, seeing a decrease in disposable income growth and savings rates. New Zealand has also seen a persistent gradual slowdown and faces tighter financial conditions in the near future. Richard also spoke of the challenges facing the large Asian economies of China, Indonesia and India as domestic demand has slowed. The seminar concluded with a Q&A session, with closing remarks made by ANZCCJ Executive Director Judith Hanna, who was MC for the event. Thank you to ANZ for hosting the seminar, and the Roppongi Hills Club for their excellent hospitality.